Searching For A Top
I've just returned from my trip to Denver and I"m ready to get after the Market again. If you recall, I offered two wave counts in my July 25, 2010 post. Rather then recreate them, I recommend that everyone read that post again as it provides a game plan for a breach of 1127.5. I feel this level may be taken out tomorrow. The post is found in the July achieve (see the right side corner of bottom of the blog).
One word of caution. The current rally is getting tired as measured by many indicators. It is ripe for failure. Could the market extend further? Yes but 1127.5 is a previous 4th wave, so one needs to be looking for possible failures tomorrow. If the market penetrates 1127.5 cleanly and with upward thrust, then the next target is in the vicinity of 1136.
Best of Trading!
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