Friday, August 27, 2010

08/27/10 Update

Sunday 9:40pm update: the VIX:VXV reset back to launch position. Futures are currently up. Market might be up for 1-2 days, but I would not count on it. If it is up, it is an opportune time to short.

12:40am sunday update. Green going to cross red from the bottom soon...

Wow that wave series ended quick today right after 10. So right now we are about at the top of where wave (iv) should be. The only issue is the size of the waves. There is no way to hit the minute [i] target if wave (v) will equal wave (i). So we are potentially looking at a possible extension of wave (v).
The VIX retraced to the 20MA which is the perfect launch point for wave 5's. Timewise I would think there is a need for more time in wave(iv), but some alternate counts have wave (iv) starting where I have wave iii marked above.
BPSPX:CPC 20MA has definitely curled over. The time to Short is now :)
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