Looks Like the UltraShort Financials ETF SKF (http://stockcharts.com/charts/gallery.html?s=skf) Will Pop on Monday, see the five day intra day candlestick chart at http://finance.yahoo.com/q/ta?t=5d&l=on&z=l&q=c&p=v&a=w14,fs&c=&s=skf. SKF appears to have completed an inverse Elliott Wave 12345 down up down up down pattern very late on Friday 12-17-10 (I made 5 cents/share on a late SKF day trade, that I tweeted at http://twitter.com/#!/tradethecycles), that began very early on Friday 12-17-10, and, SKF broke it's intra day downtrend very late in the session.
I'll be looking to day trade SKF again on Monday and pretty much every day where opportunities present themselves. The Dow Jones US Financials Index (DJUSFN) appears to have peaked/put in a Major Cycle High in April 2010 at 305.41, see the second Weekly View chart at http://stockcharts.com/charts/gallery.html?s=$djusfn.
No comments:
Post a Comment