PMKing Trading LLC
Market Perspective Archive February 28th 2007
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φ A Medium-Term and Long-Term US Market Perspective February 28th 2007

Overview

This market perspective is based on the Elliott Wave Principle and represents a best estimate of the most probable future market direction. For more information regarding Elliott Wave Principle please see our Elliott Wave International site review here.

Legend

Green Line
Trend
(5 waves)
Red Line
Correction
(3 waves)
Green or Red Circle
Possible Wave
Terminus
Green Diamond
Wave Terminus
Red Diamond
Wave Terminus
Green or Red Arrow
Probable Market
Direction

 
Monthly Commentary February 28th 2006
 
We were stopped out of our long position entered at 1325 on 9/20/6 at the close on 2/27/7 at 1399.  We are now waiting to see whether the drop on 2/27/7 will turn into a down trend (if we have a close below 1390), or whether the next wave will be back up (if we have a close above 1460).
 
Update March 6th 2006
 
The close below 1390 on 3/2/7, means we are now short from 1380 on 3/5/7 with an initial trailing stop at 1460.
 
Update April 17th 2006
 
The close above 1460 on 4/16/7, stopped us out of our short position for a loss and we have now reversed to long with an initial trailing stop at 1380.  Always let price tell you whether you are in a good trade or not.
 

Yearly Commentary February 28th 2006

We are still long the yearly chart with an entry at 1325 from 9/20/6.  Our trailing stop is now at 1367.

This market perspective is for your information only.  Please get professional advice before risking money on trading or investing using this information.  Note that the S&P 500 is a theoretical index that cannot be directly traded.
 
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