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Saturday, October 17, 2009

Week-end Outlook!!

I am still happy with the counts I have going, still a possibility that we could have one more small degree wave up, in the final wave C. Fridays move looked a little more corrective, then an impulse down, might of been tracing out the final wave 4, with a little more downside on Monday (check the top two charts in the post below). Then a run to try and make a new top. I would have to move the blue 5, up, and replace it with the blue 3. Topside would be ~1100. The indicators are all showing negative trends (check the charts for my notes), but there is just enough room to get that final little squiggle in. The VIX chart showed a spike to the downside, making a new low, that reminds me of a final push over (blow-over) style of movement marking a top, or in this case a bottom. The Dollar also showing the same as the VIX, a Bullish descending wedge. I have seen a lot of the blogs go bullish in the last 24 hours, some even pushing the top up to 1200, I have not yet seen enough to believe that is possible, either in the TA, or the FA. The only wild card is what the FED does with the Dollar, or the Politicians, but I will try to keep the political debating out of my blogs ( you think Kenny can throw a rant, let me get going on my beliefs of how ****** the Government is, and I would give him a run for the money)!!

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