Replies to post #46958 on Short Term Trading Member Forum

[Chuck703VA]

A picture would be worth a 1000 words, I am lost again.

Yesterday chatting with Pegwatcher I suggested I was looking for a bounce from the recent lows. My initial thoughts were somewhere around 1338.99 area or a 38.2% bounce. This mornings retreat South could be complete now and we then need a C=A wave up to the sub 1340 area. I still see that as a possible outcome.

That would be followed by a fifth wave down. Perhaps to the 1270 area or maybe even more.

Just another opinion. Watching for re-entry point.