Sunday, June 26, 2011

Volume + EW-Monday call

Almanac Last day Q2 Dow dn 14 of last 19 nas up 12 of 18 but dn 6 of last 7.
July 1st Dow up 18 of last 21

Thought I would put up a P&F above to see target

I think the EW speaks for it'sself as AGET see's it.

These volume chart offer no capitulation. Of course we all know the market is news driven and will break the trend for a few days. Obama working on the budget no matter what they do will create a rally unless no agreement. Since the buck stops at his desk he would be a fool not to settle the talks. Raising the debt probably will be considered bullish for a few days.
My call- with the vix and trin high a sharply higher open will have legs and I suspect a sharply lower open will have the same legs.
One more down day would give me a ST BUY

Get out of here!

Jerry O