Market Update - 9/7/2010

Today did not feel impulsive to the downside, but we did back down from a zone of heavy resistance. For now, the trend may still be up until we break below 1080.

1080 should be some decent support if the trend is still in fact up. If we can get some impulsive selling, we could make it back down to 1065. Breaking back above 1100 will be extremely bullish.

The daily charts have also had another explosive up move, it does look strong but at the same time it has been too much too soon.

If this is still Minor wave 3, the market needs to start heading down soon.

Sorry for not posting much, but my ToS grids are still not opening. I have been told it is because of the recent rollback, and ToS is working on it. Until then I can only post a limited amount of charts.