Short Term Trading Member Forum

[chris3403]

"Today's opening was not as strong as Friday's bounce off the lows."
That's because they didn't rebalance the Russell today. Friday they changed GE from a value stock to a growth stock.
"The zizag makes a 38% retracement of the wave 1 from June 17 highs to June 24 lows."
But wouldn’t it be more appropriate to calculate it from the 5/21 High at 37.34? That would put the 38% at 35.37.
Anyways I concede on the possibility that tomorrow may be a down day for GE but it would be very doubtful to take out the 6/24 low at least for the next year or so if not longer.
gl/gt
chris