Thursday, February 12, 2009

All Indices Confirmed 5 Waves Down; Feb. 12, 2009

All the major indices' futures have now made new lows on the week which makes 5 waves down across the board. With the market opening in 10 minutes it's more than likely it will push the cash indices down to new lows as well. The S&P futures is bumping down on the that blue ascending trendline I drew in two posts prior so a solid break of that combined with 5 waves down from last week's high tells me this market should accelerate in downtrend over the coming weeks.

No time for a chart....

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