Tuesday, October 25, 2011


The correction I was looking for started today. However, the trend has not been broken and we won't know until the wave tests the TA. If the market tests the TA and bounces from there then we're on to higher highs on this wave. But if the market makes consecutive closes under it then we are probably on to the Fib retracement area which I have anywhere from 1075 to 1186 but most likely 1140-1186 before another big rally takes shape. I think once the EU meeting is over we'll see what the market really intends to do. As of right now I think the market has priced in any good news and anything less than expected will cause a sell off.

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