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Post# of 51808
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techcharter

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techcharter

Re: techcharter post# 33581

Sunday, 04/27/2008 11:46:14 PM

Sunday, April 27, 2008 11:46:14 PM

Post# of 51808
SKF and UYG wave counts

UYG is the ultra financials
SKF is the ultrashirt financials
These ETFs are inverse of each other, so analyzing one is the opposite of the other.

UYG may have 1 or 3 more days of rally left in a double zigzag off the March '08 lows.

Wave a, zigzag, 5 days long
Wave b triangle, From March 24 to April 23. It signals the last wave of the larger degree of trend is next.
Wave c, has run 3 days an has 1 or 2 days left, has to be a zigzag.

The stochastics are approaching oversold.

http://stockcharts.com/h-sc/ui?s=UYG&p=D&yr=0&mn=2&dy=0&id=p38852161170

Be ready to buy SKF or sell/ short UYG.
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