Replies to post #2269 on Profunds index and sector trading (PRO)

[positiontrader]

Steve,

The market is telling us what it wants to do.The only thing I can do is react.

Regards

Marc

[ajtj99]

Steve, it worked. The only time it doesn't work is when we have a change of trend. We had a change of trend in the AM. This move down was a brother move to the move down Friday.

Friday's move on the NDX 1116 to 1082 34 points.
Today's move on the NDX 1126 to 1094. 32 points.

In e-wave that's a completion of wave 4. Wave 5 up in process would take us to new higher highs.

Next target? COMP 1500. That would be about NDX 1040 or so.

[sallen]

Double the old record. Have to wonder how much we'd be up if there was anything good out of the economic numbers this morning. 1500+? Looks like it.


sallen

[positiontrader]

Steve,

My mistake yesterday was bailing before the daily trendline was broken.I hope I will remember that lesson.The trend is truely your friend.

Regards

Marc