THE DOT - if this turns orange or red be alert

Thursday, April 16, 2009

SPX tech update - red alert-get out of longs

At current levels we have a 12 count for the SPX and NDX that a clear point to get out of longs within 24h.
we have reached the price target 860 and we might even go up to 80 but that is the part you leave to the gods of fortune. Between today and Wednesday markets will turn down and the ideal day would be right after expiration on Monday but that's a call hard to make. In any case we will get a lower point to get back in into longs for wave C up. Still too early to enter shorts though. I will update as the day closes as we need the close to be sure.

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I am a professional independent trader