Replies to post #5214 on Short Term Trading Member Forum

[techcharter]

Re: Mitch M

I can agree with Mitch's position that Wednesday could be the top of something based on Ewaves. Where I disagree is I think Monday will be a wave 1 of 3 down. The media will attribute it to rising oil and slower holliday sales. It would make the third straight weekend of disappointing sales. The selling continues into early Tuesday. Tuesday afternoon into Wednesday is a wave 2 of 3 bounce, but should not break above the close on 12/10. Then late Wednesday/ Thursday a wave 3 of 3 could start.

There are support levels for the Dow at 10400, 10200, and 10100.