This rally still looks a little suspect, but given that it could be Minor wave 4, the internal patterns could look corrective even at small degrees of trend.
An interesting observation of today's action is that my individual stock short positions did not sell off much at all with the majors. This is a positive divregence in the action.
Given that we are well within the turn date I indicated previously, it would not be surprising to see the markets rally for one to two weeks before turning lower again.
Updated rally targets:
Dow - 9029, 9383, 9736
QQQQ - 34.90, 36.61, 38.31
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment