Reading Assignments:

• Experts Talk Housing, Inflation, Credit, Fed Policy
• Precious Metals, Oil & Nat Gas Trend Charts
• U.S. Stock Futures Fall as Boeing Drops; Yahoo Gains on Profit

Market:

10:58 AM

Closing order to sell WAVE GTC @ .95 (candle forecast – .01)

10:39 AM

Bought WAVE @ .78

9:54 AM

Limit order to buy WAVE @ .78. Alert set off at .77 to buy high and tight flag on pullback. Not sure it will go today. If not, will cancel.

9:42 AM

Created closing order, GTC on BEST @ 2.21 (Candle forecast -.02, 77 % probability)

9:30 AM

Bought BEST @ 1.61

Pre-market:

Ooh. My candle market scan shows 18 bullish engulfing to 348 bearish engulfing patterns, a ratio of .05. This scan was correct for forecasting yesterday, so I’m relying on it today and not taking on any but the most short of trades, if any. Right now futures are down 67 points on the Dow, and equities across the globe are down considerably.

McClellan has pointed back below center crossover line, and summation index looks a little toppy. But the upward trend in NYSE Composite Index still well within upward ascending triangle, and breakdown not yet evident as of now.

This will be a good day to research for some buy on the dip opportunities. I’ll have my chart pattern indicator and my pattern setup scans very shortly.