As you know, Steve and I have been paying the trend for months
and months, however we are getting to our targeted wave structure
areas, so we are more cautious up here 1290 - 1300. Even
under the most bullish of wave structure, we should soon be
completing wave 1, the 5 wave move up from July was part of a wave
1, but you would get a wave 2 pullback to retrace 38% of the wave
1.
I too believe that we will eventually go back to test
the 1500 level, but do I think we are going strait to 1500 without
a pullback, nope.
I can't tell if you
It's nice to see this new high on the market, ...
Posted by Palladin on 14th of Jan 2011 at 01:08 pm
I can't tell if you are being sarcastic but thats allright. I'm well hedged. Honestly, I'd rather see the market go to 1500
As you know, Steve and
Posted by matt on 14th of Jan 2011 at 01:38 pm
As you know, Steve and I have been paying the trend for months and months, however we are getting to our targeted wave structure areas, so we are more cautious up here 1290 - 1300. Even under the most bullish of wave structure, we should soon be completing wave 1, the 5 wave move up from July was part of a wave 1, but you would get a wave 2 pullback to retrace 38% of the wave 1.
I too believe that we will eventually go back to test the 1500 level, but do I think we are going strait to 1500 without a pullback, nope.
Yes, 1500 is my next target.
Posted by skyscraper on 14th of Jan 2011 at 01:26 pm