Wednesday, February 25, 2009

5 Wave Decline and Correction Should Be Over; Feb. 25, 2009

Here's a chart of what I was talking about the last post. In the 30 min S&P futures chart we have a clear 5 wave drop and a 3 wave rally, SO FAR. As long as that holds, the near term move should be down to lower levels...........and possibly much lower levels. I do not feel any significant bottom is in place.

I'm currently half short.

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