It remains alive in so far as we cannot get another clear trading bar subdivision on the Monthly chart until the first
trading day in August to accept a more Bullish 5-wave count from the March low. We remain skeptical of this move,
for now.
One-half of our 'Flag' pattern short/hedge from 3180.70 was stopped out on the close today for an effective 0.36%
loss.
The remainder of the short/hedge position will be stopped out on a close above the June07 recovery high of 3233.13.
The Daily chart appeared to print a very tight 'Spinning Top' candlestick which reflects some indecision as to
the direction in this market. It can precede a trend reversal.
We'll see what tomorrow brings ... with a view to increasing our short/hedge position quickly again.
trading day in August to accept a more Bullish 5-wave count from the March low. We remain skeptical of this move,
for now.
One-half of our 'Flag' pattern short/hedge from 3180.70 was stopped out on the close today for an effective 0.36%
loss.
The remainder of the short/hedge position will be stopped out on a close above the June07 recovery high of 3233.13.
The Daily chart appeared to print a very tight 'Spinning Top' candlestick which reflects some indecision as to
the direction in this market. It can precede a trend reversal.
We'll see what tomorrow brings ... with a view to increasing our short/hedge position quickly again.