.... I know I'm not comunicating it all that well.
The way these corrections go off normaly.
We get the A leg of the Correction..... and it is make up of a 5 wave ABC correction... Then we get a pure 1-5 impulse wave down.... Then we get another ABC correction to the upside.
This time we have had a 5 wave impulse.. not an ABC correction to the upside. as the A wave.
Then this B wave was more like an ABC correction.
I know I'm talking my book but This looks like it has another 800 pts to the upside... or so.....
Not that I havn't been wrong before.... but after a pull back at the 1390 level.... we could have another 50 pts to run on the SPX.
I am talking my book though....
But this pullback wasn't quite as bearish as it could have been, but......
I guess we are going to see
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
Wednesday, April 2, 2008
ABC
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