Friday, February 06, 2009 8:41:25 AM
After Eco data, markets are trading near at pivotal junctures, for Qs 30.80 +/-.
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With VLT "A" correction scenario, the following Qs chart is ending wave 5 -- only if the break to upside is valid which it looks to be with low probability if market reacts very negatively with the Eco news in premarket. In any case, breaking lower support invalidates the scenario.
I noted on the VLT corrective "A" wave scenario which is logical than "C" considering the US economic and financial condition. Furthermore, major market formations suggest that markets are in "A", not "C", and Nasdaq has its own wave pattern.
http://trend-signals.blogspot.com/2009/02/market-comment.html
________________________________________
With VLT "A" correction scenario, the following Qs chart is ending wave 5 -- only if the break to upside is valid which it looks to be with low probability if market reacts very negatively with the Eco news in premarket. In any case, breaking lower support invalidates the scenario.
I noted on the VLT corrective "A" wave scenario which is logical than "C" considering the US economic and financial condition. Furthermore, major market formations suggest that markets are in "A", not "C", and Nasdaq has its own wave pattern.
http://trend-signals.blogspot.com/2009/02/market-comment.html
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