http://indexcalls.com/index.php?showtopic=4093&st=80&p=807983 Ideally, I would hope prices would fall back to the opening but this is a corrective wave upwards and could subdivide and become more complex before doing so. One of the main purposes of corrective waves is to chew up time.
After the fall back to 1850, we reach an inflection point. If the market continues down, it's seriously bad. If you are Tony Caldaro, you believe there are new highs >2131 in our future.
Taking into account the "situation", I would think markets would fall due to the sickness both fundamentally and technically, but rigged markets and free money have a way of defying the rules.
I am truly undecided at this point in time, but as this unwinds, the larger trend direction will reveal itself. Very hard to shake off one's biases. Sorry I can't be more definitive.
according to Eric Hadik, he has only one trade call: "1--3 month & 3--6 month traders should still be on the short side of Stock Indices - entering those positions when the DJIA was trading at 17,950 up to 18,288/DJIA - and should hold these short positions until a weekly close above 16,950/DJIA."
Traders on shorter time frame needs more energy on hunting every "possible" turns. ... ...
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.