The markets had a heck of a reversal today after dipping to new lows. This has the classic signs of a bear trap, as the markets looked like they were breaking down and then reversed to trap anyone shorting into the thrust lower. Some of the most powerful moves come from these failed patterns, so it will be interesting to see what transpires over the next few days.
I'm going to be in New York tomorrow through early next week, so there will be no posts or charts. While all the signals are here for a strong push higher, you never know what the markets have in store. A lot of people think today was the low, and the markets have a funny way of proving the majority wrong. Manage your risk and be ready for anything the markets throw at you.
Good Trading,
Joey
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DOWJONES ANALYSIS
http://rishtrader.blogspot.com/2008/11/dowjones-analysiselliott-wave.html
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