Wednesday, October 28, 2009

Transports, Commercial Real Estate and more Stupidity


Enough said, now to the charts


Here is my take on Transportation ETF (IYT)

As you see on the daily chart w3 has printed (note – at the same time it did not overshot wC of sequence down which raises the question about validity of developing wave sequence up ) and w4 satisfied minimum requirements.  Unless high of w3 will be exceeded – we have bearish case on hands and I intend to trade accordingly – short the rips.



Next one up is Commercial Real Estate (IYR)


Everything that being said about (IYT) can be applied to (IYR) PLUS its bearishness is reinforced by new wave sequence down starting to develop – w1 has satisfied minimum requirements already.



Here is a bonus – up to the minute chart of /NQ (NASDAQ100 Futures) – unless 1714 low will be violated in overnight session I expect bounce tomorrow.




Here something else – when you post comments with links to your blogs, PLEASE, make sure that you contributed to discussion FIRST and people would not treat you like a spammer.  (Yes, I am not the nicest person on Earth, but I was told to be quite fair – I would hate to ban someone who otherwise might have benefited to the cause)


And here is my favorite part


blog comments OCCASIONALLY powered by Disqus