Tuesday, October 20, 2009

Nothing to see here


Stale action for the time being, so stay alert – that is when it gets you


Few Intraday charts


(SPY) – unconfirmed wB of UP seq




(QQQQ) – unconfirmed wB of UP seq



At this point IF I was short from the open (could not wake up) – I would keep shorts on the very short leash – no matter if new day low will follow – bounce in wB is likely.  That is what I am watching now – what wB will look like, if it will be flat – we might just get extra selloff by the end of day.

Speaking on relative positions within daily price projections – both SPY and QQQQ still have not broken lower “tolerance” level therefore hinting possibility that  LOD was set already.  Again – all I can do at this point is to watch for wBs to reveal themselves on intraday 18min.


P.S. Time and again I cannot not to express my deepest gratitude to “K and Co” for marvelous transformation they brought to this place – I think I am crying :)

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