Tuesday, July 29, 2008

July 29, 2008; Closed Right on Targets

Amazing how well EWP can predict the markets sometimes. The market has now closed and the Dow's target of where wave a equals wave c is 11,392 and the Dow closed at 11,397. The S&P's target is 1263 and it closed right on that number today.

This leaves a high probability that tomorrow will give way to heavy heavy selling. I'm positioned accordingly with heavy shorts in the Nasdaq 100 (QID), Dow (DXD), and S&P (SDS).

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