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Monday, June 1, 2009

NDX market update

The 'E' wave within the zigzag takes its course now and triggered an interesting pattern yesterday the 50 day MA crossed the 200 day MA. The Jupiter in Aquarius takes it full scale now as the overall rally will have a bigger magnitude than I thought as we almost have reached still in bigger wave 'A' almost the targets. We have to extend the overall target for the NDX to 1625 which matches the 50% retracement and brings the market close to the 200 week MA. The point is nobody will complain that markets are manipulated up as most people are naturally long and it is in the governments interest as well. On Friday we had a high ISEE ratio meaning that net long calls were purchased in size and yesterday as markets jumped higher they took profit as VIX even rose a bit and ISEE dropped sharply. We reached the 38.2% retracement yesterday at 1480 and as the count shows the Full Moon is the end of this smaller wave 'E' and bigger 'A' , which is wave 5 of A. Within 2-3 days this euphoria will run out of steam for a short term a see a brief and steep correction before wave 'C' up comes into play.

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I am a professional independent trader