Wednesday 4/21/10 wrap up

If we're in an expanding diagonal 5th wave starting with the low a few weeks ago, then the 4th subwave of that can be marked as ending with the low Monday and the "a" leg of the 5th and final subwave done at the high this morning and the "b" leg complete at the low this afternoon.  That would put us in the final "c" leg of the 5th of the 5th, i.e. sell the pants off the next new high if it occurs.
The Vindicator Sell line bottomed today but the market already had moved down prior to that event and the V Stoch did not put in a divergent top, so a short position was not entered.  Still looking for that pattern, we may yet see it.  In contradiction, the V stoch moved down close to the 25 area, if it had crossed below that it would have been a buy signal, but here again no trade as it appears to be turning up without crossing into buy territory. 

One final note, I'm adding a 5 min Vindicator stochastic which looks like it may be of some use.  I'm not including a buy/sell vindicator, that study doesn't seem to generate useable information on a 5 minute chart.