Tuesday, October 13, 2009

Market Observations - Tomorrow...

Well, my scenario is still looking for downside resolution...just as everyone is now really looking up. But it has to happen by tomorrow and in dramatic fashion. Targets for Oil as per my previous Oil posts were around 78 to 79. Gold 1085. Dollar 74.5 to 75. I think we may be able to hit or near those targets on a gap type move. Of course, just to screw around with all the wave counting. In any case, Once anything near 78 to 79in oil is hit and 1085 in Gold...it is over in my opinion. I would look for a dramatic sell down and to close red...regardless of whether those targets are hit tomorrow or not.

I will post charts later. Just wanted to post my thoughts.
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