Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: AllansAlias who wrote (1427)	7/21/2008 12:46:10 PM
From: ItsAllCyclical	Read Replies (1) of 3209

(edit) Per EW, there could also be a failed 5 as well, correct? When can you determine it's a failed 5? It appears that we're starting to see some demand destruction in oil. If oil can't rally going into Wed inventory report and we get another surprise build then the market could build on this rally. I'm mostly flat here since we're in a gray area. There will be enough volatility going forward that the key is patience. Wait for a trade to develop and take profits often when unsure. Hell of a chart if the markets do make new lows. I'll be reading my EW book nightly. :)

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