Tuesday, October 5, 2010

S&P 500 - October 5, 2010 - Intraday 3

So, where did S&P stop today?

Common friends, you know the answer!

The mid-line of the blue channel, of course!



Perma Bears wavers get excited when they see a gap down and shout 3 of 3 of 3 of the finally-I-am-right wave. Why? they say that a gap is an act of recognition by the masses.

We had a gap today that bulldozed over a whole bunch of shorts. How many perma bears of yesterday do you thing will call this a wave 3 up?


Any how, excellent breadth, excellent momentum, excellent price action -- a good day!

A move below 1145 may indicate that the short term trend in changing.

If I find something worthwhile, I will make a post this evening.

Have a Nice Afternoon!

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