bailed out at 2530ndx last night as i could not stand the pull
back anymore.
but looking at it this morning i do not think it is over yet. we
got a better volume spike and another flush down, now there is also
a good divergent low on a 60m macd chart but i am becoming more
convinced that the sept/oct hi was a high of some consequence.
therefore this run down should count as an EW 5 and although it is
not clear i can only count it as a corrective wave at the moment.
so either the low is not here , or if it is we go to new
highs.
i have used the ndx as it is a cleaner count but spx
similar.
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spx/ndx trade update
Posted by morgan8 on 16th of Nov 2012 at 09:54 pm
bailed out at 2530ndx last night as i could not stand the pull back anymore.
but looking at it this morning i do not think it is over yet. we got a better volume spike and another flush down, now there is also a good divergent low on a 60m macd chart but i am becoming more convinced that the sept/oct hi was a high of some consequence. therefore this run down should count as an EW 5 and although it is not clear i can only count it as a corrective wave at the moment. so either the low is not here , or if it is we go to new highs.
i have used the ndx as it is a cleaner count but spx similar.