Friday, May 21, 2010

Perspective

DJIA 60 minute

Waiting for this counter-trend rally to end, note how the projected 4th wave termination straddles the 60 minute trend line.  This says to me that the trend line is a reasonable place to add-on Short positions, if things get that far.  If not, a break of the  Wave 3 low would serve the same purpose.