Tuesday, December 7, 2010

Tuesday Update

Gap-n-Crap

Tuesday open was a large wave 5 gap-up, a Gap-n-Crap type of open. It gap-up to the ADR level and immediately sold off in a 3-wave pattern down to close the gap and test of Ft Pivot. Wednesday's morning trend will be the key to whether the decline from Tuesday's high will be a 3-wave down or a 5-wave down.