Replies to post #12423 on Profunds index and sector trading (PRO)

[nuclearpayload]

Steve, M3 was talking about a Gartley butterfly. That's totally out of my realm, but I looked at some charts of it and it seems to be that the pattern IS the second half of an EW combination. Do you (or anyone else) know anything about this, and if so, are we making one here?

[Z-M-L]

Note that 1435.96 is also the (.500) retracement level. 1451 on the NDX is the (.618) retracement. A "close" above 1440 would change the current wave count that I working with...but still bearish.

[positiontrader]

Steve,

IMHO We now have lift off.I think a new leg to the Bull has started.

Regards

Marc

[kanuti]

I'm getting nervous now...liked it a lot better yesterday when most everyone but me was looking down. Sold a little already but as long as 60 minute chart is pointing up will hold the rest.