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High As A Kite
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High As A Kite

High As A Kite

by The MoleAugust 21, 2009

10:10am EDT: Jackpot! We just made new highs (as predicted – ahem):

1040 is now a real possibility – remember that we have a fourth wave resistance line at 1045 going back to October 2008.

And 1049 also marks the point where Intermediate (Y) (i.e. the current leg) would represent 68.8% of Intermediate (W) (i.e. the first leg).

The Dollar has been taking it up the rectum and the old perv seems to enjoy it a bit too much. If we breach 77.43 all hell is going to break loose – we could easily see SPX 1,100 in that event.

10:33am EDT: NYSE a/d ratio is currently around 5.5:1 – which is the highest reading since July 15. The Dollar is now creeping back and is hovering around the 78 mark.

Remember – today is OPX day – considering that we had a HUGE move as usually the action is a lot more muted on the two final days. I don’t expect any fireworks for the remainder of today – everyone who’s worth anything has made their money and has various escort services are on speed dial. Hey, where’s my VIP invite?

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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