Short Term Trading Member Forum

[techcharter]

What a nasty day!!!

THere was a drop at the opening, and a waterfall close. The water could still be falling a long way tomorrow. The consolidation off Thursdays lows may have ended in the futures market Sunday night as they were up 9 points. This put the retracement near the 1/3 of the New Year decline, but the time spent consolidating has been disproportionally short. There is a chance this consolidation is wave 2 flat with wave c starting tomorrow. Otherwise it's crash-city.

10 yr Treasuries have had 2-3 days of sharp selloffs followed by near retracements. It's still to early to figure out what the wave count should be at this point.