so... EWT says we should look for one more low.... We are still in the trade channel for the ENTIRE downtrend.... But the up move today was very wave 4, for the entire downtrend..
there is always a chance we just stay in the trade channel.
scary notion is that the wave forms are starting to look more bullish than bearish.....
so, we sort of had wave 5 and 4 of the smaller move, and we are now tying to correct wave 5... which may happen in the futures.
A failure of the wave 5 is possible. and I believe we have seen some accumulation.
you know what I'm thinking, about the reduced Volume, is that it could be because of the de-leveraging process....
Monday, March 31, 2008
no chart yet
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2 comments:
Good morning Eric,
Futures headed higher today. My feelings is that those are (UBS additional write down) http://www.bloomberg.com/news/index.html
what drives the market up is all about momentum, i don't think the overall ecomomy is good especially this week we got the non farm payroll which i think mostly worse than expected.
Morning Melissa,
Good to see you still around.
I'm not sure, I'm totaly Bearish... but the weekly jobless claims arn't supporting a huge loss of jobs in the NFP.
This Rip in the maket is a very insane move.
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