Serious intra-market divergence with the NASDAQ up 1.45% and the DOW only .20% and the SPX only .58%. No doubt last quad witching opex came into play and more end of year positioning.
I'm using the Wilshire chart again for tonight for clarity on the overall market structure. I have 4 options laid out on the 30 minute chart. In reality, three of the options are basically saying the same things: new highs coming - they just differentiate how they go about it. The other option is that the high is already in.
The 1 minute chart supports the primary count of an [e] wave of an ascending triangle.
Friday, December 18, 2009
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