Betwixt and between….

Posted on Oct 08, 2011 by in Letters

We booted our long trade in the SPX Friday as we analyzed that the upwave was ending.  Pretty short upwave.  3 days.  (7% profit) Now we are betwixt and between.  If we take out the last high, 1194.62, we will be stuck in the massive sidewave here.  If Friday's high holds and we see three days away on the downside get set for the bobsled ride to the next recession.  We have already pointed out the developing pattern of lower highs and lower lows --two so far.  If Friday becomes another point the bull's goose is cooked.  The death throes of the bull are written all over this formation.  The only thing that can save it is  a desperation wave above 1240.

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