Stock Market Dump and Pump?
Stock-Markets / Stock Markets 2012 Nov 13, 2012 - 07:48 AM GMTYesterday’s low volume may be attributed to the bank holiday yesterday. This morning, the SPX declined 8 points at the open, then shot up, powered by the newly-turned-on HFT computers. It appears that the SPX may be completing a Minute Wave [c] of 2 this morning, rather than yesterday, as my Model had supposed.
The initial target for this probe higher appears to be the Orthodox Broadening Top trendline at 1394.00. An extended target may be the Head & Shoulders neckline at 1403.00.
It appears that this correction may be a fast one that may be primed for a fast reversal as well. This correction may fail at any time, so I advise only the very nimble to trade it.
Regards,
Tony
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