Tuesday, October 7, 2008

Lets make the market move ...

Holy Crap, DOW broke 10K, down to 1007 on the S&P, over 8% at one point and a pretty huge recovery rally, considering how the market traded yesterday we can consider our -3.5% a victory.

Technically we are bound for a rally from here and we should be able to fill our gap created yesterday. As mentioned the gap yesterday was a beautfil setup for an exhaustion gap that should be filled today. From here on out we can expect a nice recovery in the short term.

Time and Price
As we are still trading with fear in mind it is difficult to predict price points. As mentioned the 1070 number still applies as an important turning point.

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