channel and EMA20 could be the pullback target but overall, the price doesn't look bad.
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JJL--
Based solely on the Wolfe Wave target of 12242, I could be bullish on the Nikkei. Everything fundamental indicates otherwise. But note that Shirakawa-san has already spent $385 billion to support this market (more than the estimated $308 billion cost of the earthquake and tsunami) and is likely prepared to print his way to more fiat insanity.
Thanks 99er, I saw that target of 12242. I thought there was a possiblility it would trace out to 61% (about 9700) and either retest or consilidate, which it sort of has been doing this week. I am more technical than fundamental, so could see some wild chase to 12K.
Like I said this morning it looks like 1295 may be a new temporary hi. We have failed to break past this several times. So now we test the low. Right now I am bearish.Lets wait and see.
very possible - this is where people should be looking before its too late - the rocket phase of the C wave is leaving and there wont be another spaceship taking off for a while...
Last edited by zombiebraingoo on Wed Mar 23, 2011 1:50 pm, edited 1 time in total.
[quote="
Maybe - BKX is stuck at the flash crash lows to be sure but it isnt dropping below there as yet[/quote]
I just bet on breaks over 5dma on FAZ will give me some juice.[/quote]
good day trade strat but I dont know if it will play today...[/quote]
Thanks, got to stick with what I know.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Channel. Nothing to say, trend is up, a strong uptrend day because it hasn't touched EMA20 for 2 hours.
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Bear case, this could be the retest of the previous high (remember you Earth people always like to try twice?) so SPY may at least retest $130 area.
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