Wednesday, May 11, 2011
Wave c Of (ii) Down Underway
Wave c of (ii) down is underway as the selling started almost right from the open. However, the damage to leading stocks does not appear to be severe. It may only take one more day to complete this move down, but it should finish at the latest by Friday. Thereafter, a powerful 3rd of a 3rd wave up should follow. However, if the SP500 should sustain below 1323, then we would have to reconsider that viewpoint.
Posted by Trader Craig at 2:02 PM