Wednesday, September 29, 2010
The Dow has broken above the 10700 and is now heading for the 11250 highs which are due even the next days or sometime early Nov. The count is at 9 with a 13 mandatory to finish the current move - which means at least 3 higher closes from yesterday. Since the 200 week MA is around 11000 that is the likely target for the window dresser campaign. Another indicator is the EUR which runs at a similar pace also counting a 9 with a 1.37-8 target. Also we are in a week 4 count with typically 4-6 being corrective weeks as we are in the window dressing mode the current 4 still trends up and Venus being in a pleasant angle to the USA Venus Jupiter and Sun constellation for now but turning retrogade on the 8th Oct a correction (likely a sharper one ) should start around the upcoming weekend. In order to go short wait for the 12 to kick in or the DOW to hit 11000 as the risk for now is limited to the old high at 11250 but the downside is rather 5-8 % -m which is exactly the ratio one should bet on.
Posted by getagrip at 3:47 AM