Wednesday, October 12, 2011
Consolidating Before Big Drop
Today was day 1 of the consolidation at the top of the range. We should have a couple more days of consolidation between 1195 and 1215 before we get the big drop down to 1150, most likely next Monday. Now that the parameters are set, I will be looking short between 1210 and 1215 tomorrow. Expecting a gap up.
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4 comments:
you will miss the boat.
Yep, I highly doubt the pros will make it easy for those anxious for a meaningful correction. Smart shorts will be waiting for another test or two of the range you've mentioned.
watch europe get hammered tonight. the setups are front run in europe now.
This big drop in the market should take the DOW down below 10000.
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