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Friday, January 22, 2010

Correction

This is just a correction of the recent moves up... Yesterday we didn't finish this correction.. It looks like we have 2 to 5 more points to give up... I expect that to happen this morning, and then for the bottom to confirm (double bottom), then a decent bounce. Once we confirm that bottom mark that level because it will be the support we need to watch to maintain the 1175 target.

I will add position on open...

Quick 30 min chart... Shows some support lines that may come into play. Also look at the indicators very oversold here. GL
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2 comments:

  1. AnonymousJanuary 22, 2010 at 11:54 AM

    Hi Loser,
    Just wondering how Gann could miss such a downward corrective move? Also last night SJ posted an update about Gann saying if 1114 was the line in the sand.
    Wondering if we really will bounce back and what sort of time frame or could EWers be correct and this is the start of P3.

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  2. LoserIIJanuary 24, 2010 at 5:42 AM

    Gann lines usually always come into play... the key is calling the right one... I was wrong.. I called the wrong ones... You will see on the next post what I am talking about.

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