that's a substantial wave 2 bounce you've laid out in the chart,
might it be smart to cover shorts for now and reposition?
Wave 2 could go as high as 1270 per your chart or did I read that
wrong? Meanwhile Shreve from IBD on CNBC talking up retail
sector, what's with the resilience there?
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wave 2's retrace generally one
S&P 500 15 min chart
Posted by matt on 11th of Sep 2008 at 10:07 am
wave 2's retrace generally one of the Fib #'s of wave 1.
again this may or may not be the correct count, we'll see
that's a substantial wave 2
Posted by trade on 11th of Sep 2008 at 10:21 am
that's a substantial wave 2 bounce you've laid out in the chart, might it be smart to cover shorts for now and reposition? Wave 2 could go as high as 1270 per your chart or did I read that wrong? Meanwhile Shreve from IBD on CNBC talking up retail sector, what's with the resilience there?