Thursday, December 04, 2008

2008-12-04 Market Watch

SPX daily: the picture is still the same -- wave B of 4.  It may touch about 800 as mentioned previously and then start wave C.  On SPX hourly chart and INDU 15-min chart (this index has intraday volume), the wave and pattern are clear -- both are point to a short-term correction.

image (daily) image (hourly)image (INDU 15-min)

USD/JPY: still very bearish.

image

SKF: the last trade was a bad entry.  Finally the previous buy signal was invalidated.  Today's buy is slightly better.

1 (hourly) image (15-min)

No comments: