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Thursday, April 1, 2010

Thursday 4/1 wrap-up

Still flopping around on the buy/sell, possibly indicative of a top.  We haven't had a trade signal on the
V Buy/Sell + V Stoch since 3/22, from the standpoint of the Vindicator it's been like a deer in headlights.  However, the fact is the market has pretty much tracked sideways over this period so there hasn't been much opportunity lost.
From an EW standpoint, still very difficult to get a wave count that is clear and satisfactory.  There have been no sustained clear impulsive moves during the sideways track of the last two weeks.  Lots of 3 count A-B-C's in both directions.  Here's my idea of where we might be at, but it's certainly not 100% certain:

Daily EW chart shows prices still in the channel from the 2/5 low, but we've moved sideways across the channel so that bottom trendline isn't far away:

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