Looking that the possibilities here wave structure wise we are forming a number of overlapping waves which leads to confusion. Watch that 1006 level tomorrow or overnight tonight as I have 1005.25 as the 361.80 projection from thursday's swing low.
Let me see what happens tomorrow and gauge the volume on this move made today since it was a gap and go.
Do you get a turn around tuesday or a real rejection @ 1006. One thing to note today on the futures, the big guys weren't participating, is this our early red flag.
Monday, August 3, 2009
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