Trade the Cycles

Tuesday, October 28, 2008

I'm Waiting For DUG (UltraShort Oil & Gas ETF) To Complete An Intraday Elliott Wave ABC Down Up Down Pattern

I'm waiting for DUG (UltraShort Oil & Gas ETF) to complete an intraday Elliott Wave ABC down up down pattern (getting close as I write this, might have bottomed), see http://finance.yahoo.com/q/ta?s=dug&t=1d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=. Wave A bottomed at 11:45 am. Wave B peaked at noon. Wave C should bottom at 51 to 52.

The broad market Walmart (WMT) Lead Indicator is extremely bullish, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC, which is a very short term bearish sign.

.......http://www.JoeFRocks.com/

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