either triangle still in play 980 max pain or wave iv of 3of V

well

here is a picture of what i have been thinking is unfolding

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3095409



today I was at vendor presentation at Bethesda Navy Medical Center for 6 pharmacists and the Ft Detrick Army program manager who evaluates ALL the new technology going into Army pharmacies.

he said " I do not usually travel for vendor demo's"

this company has got a product that looks like a sole source lease item for sure.

next up Walter Reed Army hospital.

As I was driving back at 1:30pm, I found out that the S&P had broken the 835 and 825 lows of 2008 and then reversed back over the 855-867 swing point from October

this feels like the expiration week rally that should now grind higher all next week into an ending diagonal between 880 and 940

so i had to jump on the long side a few times with a single emini long at 855 875 892 and 900 flat at 904.5

near the end of the day i resold a naked DEC 960 call for 26.6 (closed at 32)

tomorrow the S&P has Trending Friday news at 8:30am Retail Sales and Export Prices. the news has got to be horrible and either the S&P starts down and finishes bottom tick headed for 767 or the S&P easily closes over 914-918 swing point and off to the races (937)

overnight the Globex is down 10 points with 1st support at 897 and second support 880.

overlapping 860.5 will start to look like wave v down of wave 3 is headed to 99-140 points under 913=814-773 bingo October 8, 2002 low Dan

on the stock front, EBS sold off hard but closed near $20. further rally has to be a further accumulate on this IBD favorite with $21.xx close another bullish signal
(otherwise it is a dump until $12.5-$15 base retested)


lots of stocks reversed 10% or more and tomorrow will tell the tale on the weekly charts

ABT/CBST/OSIR/QCOM/MYGN are my favorite bio/health stocks that need to get going or dump

ASEI getting good press and looking like abreakout over $70 could lead to $90 (although i have to be moderate in this position)

clearly they turned the Oil stocks for at least one day - UPL and UNG are my favorites but not that excited about oil quite yet. WMZ pays a nice dividend and is a Kramer favorite. LG seems really strong but do not know much else

we need to have a heating oil shortage first with a deep freeze on the Northeast. so far that has not happened

same thing with Gold stocks. not sure if i trust the move yet but KGC and EGO are ones i have bought in the past (at much higher prices and thankfully sold)

INT made a huge leap higher after catching my attention a few days ago.
ZEP???

http://stockcharts.com/charts/candleglance.php?EBS,abt,CBST,osir,INT,mygn,LG,QCOR,asei,upl|E