- May 5, 2009
- Posted by: Ramki Ramakrishnan
- Category: S&P500
The 886 level in S&P didn’t hold for long, and any shorts there should have been stopped just above that level. The market continues to remain strong, and there is a pretty good chance we will reach 937. See what happens there. Don’t sell until we know a top is in place. As we are in the extending 5th wave position, we will have sufficient time to capture a good sized correction on the way down. (Usually we will get a 2nd retracement to the top, and the clues will be plain to see. I will ofcourse update you). For now, expect to proceed higher, and you should trade accordingly.
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