|
PureBytes Links
Trading Reference Links
|
Morning all,
Globex looks to be indicating a down market, at least at the open. A retest
of the 50% retrace of the rise from 6/16 at Spx 1131 would seem a good guess
at this point I think. I've got the lower level of this move around Spx 1117
should 1131 give way, but we may hold at 50%.
I have the effect of a "pivot" that occurred y/d playing out today, so we may
find a bottom, even if only temporarily. If we start to drop from the open,
I'll be watching GE very closely. If GE "hangs tough" while the rest of the
market drops, then we may get a very good bounce (pivot) today. If GE
participates in a move down, giving up all of Friday's gain, then Spx 1131
will certainly be visited and maybe more.
Am considering the present move down as very possibly a wave C from April.
Peter
http://tiger.golden.net/laird/Comment.htm
|