Short Term Trading Member Forum

[techcharter]

Rouge Wave

Prechter was completely caught off guard with Monday's price move that he didn't show any possible wave count in his short term update.

I think there is a good possibility last Friday's high was a B wave in a running flat on the DOW. That would mean today should move sharply down at the open and claw its wave up the rest of the day, possible to a new 1 month high. The FTSE shows what I mean.

http://finance.yahoo.com/q/bc?t=5d&l=on&z=m&q=l&p=&a=&c=&s=%5Eftse

Other markets are not confiming the DOW. The DAX is looking toppy, the FTSE has retraced less than half of it's 1 month high. The Nikkei is still moving relatively sideways.


Get off the elevator.