AI
Friday, November 07, 2008 6:45:58 PM
I can't believe it because the $NASI summation chart above is screaming a move higher. But this chart agrees with you and you can't deny it:
This chart makes it appear that we're about to break down from the clear rising wedge being made at the lows. However, the good news is that if you're a trader, this is a great setup because if it breaks down, it will be fast and a clear 5th wave. I counted wrong before thinking that the 5th was the decline to 7800. But it's not if this holds. So, a new low probably around the high 6's appears to be in sight.
Ouch. And in Nov? Wow. Looks like many more hedge funds need to force sell.
This chart makes it appear that we're about to break down from the clear rising wedge being made at the lows. However, the good news is that if you're a trader, this is a great setup because if it breaks down, it will be fast and a clear 5th wave. I counted wrong before thinking that the 5th was the decline to 7800. But it's not if this holds. So, a new low probably around the high 6's appears to be in sight.
Ouch. And in Nov? Wow. Looks like many more hedge funds need to force sell.
Where Real Traders Talk Markets
Join thousands of traders sharing insights, catalysts, and charts.
