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MortiES’ EOD Analysis 21April2010 ~ Timid Bulls Pocketing Some Profits

Stock-Markets / Stock Index Trading Apr 22, 2010 - 05:07 AM GMT

By: Dr_John_Trapp

Stock-Markets

A little about myself. My name is John Trapp and I write for the "Value of Perfect Information" exclusively. Trading didn't look too difficult to me 22 years ago, so I began trading October 1987. After that experience and a break from trading, I tried again. This time I was going to be a Bear. Perfect for the 90's. So I didn't have a great start as a trader. I paid a lot for my trading education. I was thrilled when I could finally break even on a regular basis. Trading is an avocation for me - one that I take seriously, and one that I consider the most difficult endeavor I have ever undertaken.


I have a lot going against me as a trader. I was a Marine officer in Vietnam and fought in the Ashau with a Battalion called "The Walking Dead" ~ and so, like most combat Marines, I'm too aggressive. I'm a Doctor (one of the Dental specialties) ~ and everyone knows they are the worse investors/businessmen. I am a perfectionist and hate to be wrong ~ so I have a tendency to want to fight the market. Overcoming these liabilities makes the prize more rewarding. I'm still a work in progress, but am making headway. I think I have a lot of good advice for new traders. If I would follow my own advice more consistently, I would be a far better trader also.
This is the article and chart my premium subscribers received after the market close:

We were able to keep up with ES today as it unfolded.  It behaved very well by forming the appropriate Zig-Zag correction and hitting W4 targets.. The Zig-Zag was a nice ABC where Wave C = Wave A. I don’t know how Globex will handle the market tonight, but I think my projection on the chart is reasonable. I do have one caveat though, and that is the possibility that today’s high was Wave B of the large W4 we are waiting for. That would mean that W5 would fail to materialize and ES would head down in a Wave C. Today’s low is an important level to monitor for the downside scenario. For now, my top scenario is the Bullish W5 and new high on my post.

If you like what you see here, wait to see how MortiES's analysis can assist you in your everyday investing or trading strategy! Go ahead., Click on "Subscribe to MortiES Premium" and give it a try! I am offering a 30 day free trial period.

Dr. John Trapp a.k.a. Mortie for Value of Perfect Information who offer stock market commentary, fundamental & technical analyses on the financial markets. Try MortiES' 30 day free trial.

© 2010 Copyright Dr. John Trapp - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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