Thursday, December 4, 2008

Possible Short Term Bullish Potential; Dec. 4, 2009

*** Please look at my prior post below to get a look at the bigger picture so we don't lose focus on where we're at in this bear market.

With the constant horrible news coming out this week, and the futures down every morning and yet Tues., Wed., and Thurs., all rallying into the positive once the cash market opens, it's apparent this market wants to push higher. So I want to look at a very viable bullish alternate scenario. As seen by the chart above, we might be in the early stages of a very long and strong wave C. The reason I don't like this scenario is because the rally so far is very choppy, not impulsive, and all the internals are very very weak and getting weaker. But all that can change with on huge surge across the board. But as for now, this just seems unlikely the way the market is trading internally and technically. But until we get a huge down move, this is a possibility, so I will keep my eye out for this possibility.

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