Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, March 20, 2008

Charts 3 day charts of the S&P

This is falling into a clear buy at 1270 sell at 1330 trade..... BUT This is what has my Knees weak.... This is a Cear 5 wave impulse wave... Now that Wave 4, AKA sell the Fed move..... is Fairly large... But an Impulse wave in a bear market is supposed to look like what I have drawn in the below chart.

We needed a large correction in this wave.... We "Kind" of got it with the fed.. but it looks more like a 5 wave impulse



If we look at what I see as the reality.... this move looks like it needs another correction to the upside(a 'C' Wave). In blue are what I see as a 'A' and 'B' wave.
..... I know it all sounds fairly crazy to me too.


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