Short Term Trading Member Forum

[techcharter]

NDX intraday e-wave

Today was very choppy. It looks like a triangle, or most of one. The futures are down, which would complete wave e. Triangles signal the next wave of the same degree is the last in the larger degree. This is short term bullish for the markets.

Buy the open. Then a 4 to 10% rally should develop the rest of Friday, into Monday, and maybe ending Tuesday close (election day). The timing of the pattern fits nicely with a "sell the news" tradition.

http://www.marketwatch.com/tools/quotes/intchart.asp?submitted=true&intflavor=advanced&symb=ndx&origurl=%2Ftools%2Fquotes%2Fintchart.asp&time=3&freq=9&startdate=&enddate=&hiddenTrue=&comp=Enter+Symbol%28s%29%3A&compidx=aaaaa%7E0&compind=aaaaa%7E0&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=3&optstyle=1013