Wednesday, March 24, 2010
Wednesday Wrap Up
Vindicator Buy/Sell still in buy mode, although buy line curling down and sell line curling up. Stoch also close to buy signal area. If a long play is made here it would be a low confidence trade IMHO.
EW pattern since Monday is quite muddy so I won't venture to make a count on it until it resolves.
ES still firmly in daily channel up from early Feb low.
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hi, al. this is great. I like the ES chart. jack seems pretty high on pugridiron's count, but I'm much less sure. yes, we are in a five-part lift from march 09, but for the life of me, I can't see it as impulsive. so much looks wrong, imo. just because it's possible to stick a 1 2 3 4 5 on the whole thing does not make it a bull move.
ReplyDeletebut I guess we'll find out as the year progresses, right? thanks again for the vindicator. that's a very interesting tool you've devised.
I agree on the EW count, I really have to connive to get the move up from Mar '09 to count as other than A-B-C's. However, reality is that we keep moving up. For what it's worth, Tony Caldaro has swung to bullish in the last 4 weeks and re-labeled his charts to a impulsive 1-2/1-2 since 3/09.
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