Wednesday, October 21, 2009

Market Wave - 10/21/2009

Beautiful charts from Kenny.



If it is indeed an expanding ending diagonal here to mark the Primary Wave [2] top, it seems we need one more up move to complete the wave structure. The last hour sell off today reminds me the 170 points down in Dow on September 22. Is today's drop just a pull back or trend reverse? We will know very soon.

Triple negative MACD divergences are shown in both charts above and MACD will cross down if we get another down day or two.

No comments:

Post a Comment