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MortiES' EOD Analysis, Stock Market Entering Dangerous Ground!

Stock-Markets / Stock Markets 2010 Apr 28, 2010 - 12:27 AM GMT

By: Dr_John_Trapp

Stock-Markets

This is the article and chart my premium subscribers received this evening. I always get myself in trouble when I start finding triangles forming. This is not the first time a triangle failed and the bottom fell out of the market. Seeing it twice will make me more alert to this possibility in the future.


I remember a failed triangle a few months back that resulted in a similar severe correction. The fact is, you can’t predict a severe correction like this. When they happen, you just have to react. I did well with the market closing the gap this morning. I then was looking for a long, but the market never gave me a good setup at the usual buy-the-dip level, and I then watched the market plummet. I didn’t chase the trend, so I had to be satisfied with my morning green.

I have to call the end of W3 again. That means we are in W4 of the move up from early February. Corrections are the most difficult patterns to trade. When they become complex, it is impossible (for me) to project future action on a short term basis. I’ll be expecting a rally once Wave A is complete – and it looks almost complete at the EOD. The typical Wave B rally is 50-62% of the entire impulsive move (W1-5).

If you like what you see here, wait to see how MortiES's analysis can assist you in your everyday investing or trading strategy! Go ahead., Click on "Subscribe to MortiES Premium" and give it a try! I am offering a 30 day free trial period.

Dr. John Trapp a.k.a. Mortie for Value of Perfect Information who offer stock market commentary, fundamental & technical analyses on the financial markets. Try MortiES' 30 day free trial.

© 2010 Copyright Dr. John Trapp - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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