Tomorrow, Germany probably gets the go-ahead to fund the European debt ponzi a little longer. We gap up a few handles, but since the FOMC is the main event this week, the gains are limited -- not a 30-handle /ES day.
If we're going to drop all the way back to 1395 by Friday, for the 3PDH, then I'd like to propose that the Fed news actually gives us the wave 3 of the move. Wave 1 down would come from a UE report of 400K+ Thursday morning. Thursday could be a 40-handle selloff.
1395 Friday and I'm crazy enough to buy that dip.
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| 1448 only 15 pts away |
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| Decline to 10/3 and 3PDH labels |
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| C down targets updated for a 1448 top |
1 comment:
Touched the weekly bollinger band. Last time it did that was on 2-May, which was a high. Is it done? What would be the trigger?
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