Posted: August 26th, 2009 | Author: Mike Korell |
Filed under: One-Day Market Map | »
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Thanks once again, Mike and ChartsEdge! Folks - if this all works as things seem to be shaping up, we should see another good movement up as wave 5. It's even possible we've already seen its own first small first wave, but a little difficult to be certain amongst the chop of the recent consolidation. We can be thinking in terms of a good third wave within the wave 5, along with numbers like Tony Caldaro's OEW 1041 pivot and Andre Gratian independently has projections in this area too. Support ideally to be maintained at 1022, and see if it can scale 1027, 1032, 1037 and a "brass ring" at 1042 ...! Not that we can expect this in one day - especially with headwinds like divergence from a possibly-strengthening dollar and VIX. And the banking index, and even the QQQQ's, possibly having already done all they can to contribute to the effort.
So as always, careful out there, and happy market navigating!
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