Wednesday, March 25, 2009

Next few months

Next few months if we are in this magic chop fest wave could prove very difficult to trade. As I said this is the most zig zag wave in the elliott wave theory and therefore only the best traders will get it spot on. It will past though and the next wave should be a easy wave down for the bears. The question we should try and answer here is where and when this wave will end!
I think the first stop on the upside is 875 and from there we might run to the 1045 level but I am not making a call on than now, extremely difficult to tell. Lets play it close and look out day to day as it is almost impossible to make trend calls with this administration out on the tv everyday with some other plan to move the market.

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