Friday, 16 November 2012

11am update - still expecting a bounce

Mr Market seems to have completed a minute fifth wave (of black'3) lower. A moderate bounce is expected into the afternoon, not least since the market makers will be desperate to wipe out as many Put optons as possible.



Seeking black wave'4 UP..into late today, although it might extend as long as Monday.

Will have more clarity later.

Happy to sit on the sidelines..and having seen my sp'1345 target hit ;)

UPDATE 11.33am Market seeing a further small down wave..taking our the earlier low.

..and why I am not going long, despite expecting a 'likely wave up'.

still..waiting for a bounce.