“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Monday 22 October 2012

22 Oct 2012

Lower low and an active rally by the end of the day.  Couldnt ask for anything more.  Our SPX daily Stoch. is still down-trending and looking for either a 3 wave up or 5 wave up rally.  3waves would suggest we are corrective and might print a 2nd wave structure.  A 5wave up depeding on the size could be an A wave or the 1st wave to a progression for a new high in the markets that would label a 5th wave of this move from the June 2012 lows.  Rememeber we are still bearish at this point.

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