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Narrow Shave

Narrow Shave

by The MoleMarch 18, 2009

UPDATE 3:20pm EST: I’m rotating over here collecting all the data:

Officially we have not breached the 804 mark but I still have my doubts – we are way too close for comfort. I think it is possible to count the wave up to here as an 11 – however, maybe it’s just wishful thinking. Market falling apart right now – wow, what a ride!

UPDATE 3:33pm EST: Before you bears get all excited:

We are still in that up channel, which started on the 9th and has been relentless since then. Nothing material is going to occur unless we breach this one with confidence.

Market es loco.

UPDATE 3:47pm EST: Guys – I’m looking at that SPX chart and it really does look like a 9 count to me. Which would be motive. Which would also mean we might retrace here for a day or two but there’s a good chance green is in play. Trade cautiously, folks!

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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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