The market is comfortably holding on to opening gains, and is very close to hitting my sp'1425 target. It could easily get stuck around the 50 day MA @ 1422. I would imagine the market will get stuck...imminently in the 10-11am hour.
Well, I been waiting patiently since the 1343 low, almost 2 full weeks ago, and we are indeed almost at the target I was seeking on a wave'2 'stupid bounce'.
Standing by for a re-short, once the 60min charts level out, which frankly, is probably VERY close.
We're almost there...
updates..as necessary ;)
SHORT from sp'1414.
We're seeing a reaction here. I may be a touch early..but I'm satisfied with my entry.
Tranny, looking like its done. Should see a confirmed rollover on the MACD cycle by early afternoon.