Stock-Market-Observations

MY CHARTS

BUY/SELL SIGNAL IN FORCE

Buy on Tuesday 5/8/12

WHAT’S HAPPENING

Moments ago I bought and I’m putting in a stop below prior lows.

It’s one of those wild speculative things that I do when the count looks about right.  We have to wait and see confirmation regarding holding the present low, followed by higher highs.

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BECAUSE I WANTED A FAST UPDATE, I HAD NO CHARTS IN THIS UPDATE.  EVERYTHING BELOW THIS POINT IS AN AMENDED BLOG UPDATE.

I’ve added these charts a few minutes later to the above update.

Here is the suspected wave count since May 1st.

05-08-12 SP FUTURES 30 MINUTE BARS

Here is the wave count in the 5th step down (white) or 3rd step (red).  We are presently in the 5th step down but it looks finished to me.  I’m watching closely for a deviation from this count.

05-08-12 SP FUTURES 15 MINUTE BARS

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This entry was posted on May 8, 2012 at 9:50 AM and is filed under SELL - BUY, UPDATE. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site.