Wednesday, September 23, 2009

5 Waves Down - Dollar Takes out HOD

For this market to remain looking to upside targets we needed to keep ABC's for downside moves. That did not happen. Today we got a powerful impulse wave off the high combined with the dollar trade calling the fed's bluff and taking out the high of the day.

Odd's no longer favor continued upside.

That was not so emotional was it? Long's will likely not even notice a down trend until its too late.

I hope Marc Faber, Peter Schiff and Warren Buffett have their army boots on.

© 2009 m3, ltd. All rights reserved.