ZLBT Chats

Wednesday, August 17, 2011

ZLBT's Good Morning Charts 17 August 2011

Hold Your Exuberance
Market Swings Will Be Pendulous

The DJIA Charts are showing some improvement with massive selling fading noticeably.
Technically, the daily oscillators & indicators are off their worst levels.
In the DJIA Weekly Elliot Wave Chart, there are signs of an end to the bearish Wave C.

FKLI (as per mentioned) was exposed to profit takings as recent LONG positions were liquidated.
Therefor, Selling Into Strength became an option and not the norm.
However, ZLBT would still recommend a BUY AT PIVOTAL SUPPORT
Keep a STOP handy for new entries  to counter premeditated volatility.

HAPPY TRADING & GOODLUCK2ALL

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