Tuesday, December 2, 2008

Update

The DOW is currently up 230 points. It appears to me that we are making a little a-b-c move today to work off our oversold condition from yesterday, or we are beginning wave C up of an A-B-C that makes up wave A of the LARGE wave B up? Just one a possibility, I’m NOT playing in the markets today, but if I were, I’d be playing long.

Possible target on this move would be about 8,480 on the DOW or /YM, or about 855 on the SPX or /ES – if these targets get reached. The TNX is moving in the opposite direction and is DIVERGING from the move up in equities.