Trading Cavemen

Tonight’s update is quite fun for me as for once we have now established an inflection point which allows us to clearly define the separation point between our two competing scenarios. As a matter of fact, it’s so easy – even a caveman could trade this:

That’s right – Mole’s charts are now plastered all over your local airports. The reach of Evil Speculator knows no bounds.

This afternoon I summed up the gist of the current wave count and nothing really has changed since. Either we’re about to start a third wave to the upside or we are at the onset of a third wave to the downside:

The implications here are of course quite significant as a plunge tomorrow would give us some level of confidence that Primary wave {3} might indeed have arrived. So keep your fingers crossed – today was a bit of a surprise to me – but there’s a chance that the newly banked POMO cash remained untouched towards the close today and will be deployed to bang equities higher tomorrow. We shall see…

The salient line in the sand on the chart above is today’s high of 1069.62 – we push one single tick above that and chances are we’ll breach 1080 and push towards 1100 and potentially higher.

Wasn’t that short and sweet? Hey, even a caverat could trade this chart 😉

See you at the airport.

Cheers,

Mole