midweek update

I posted this on the Elite Traders board this morning:
09-20-05 11:32 AM

I can count 5 waves down from the 2186 high in the COMPX:

1…2164
2…2172
3…2143
4…2161
5…2140

The rally late yesterday/today brings us right into the previous wave 4, and about a 50% retracement of the entire decline.

Remember we had a triple top at 2186 (the high), and then
Six attempts to break thru 2172 (wave 2) in three hours.

I see 4 attempts already to break thru 2162, between 10:15 and 10:45, this morning. It’s FED day so it should be interesting.

About tony caldaro

Investor
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