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Hit and Run

As Usual, Rally Mondays resumed after the Holiday Monday last week.

Compq was able to reach it's Gap Resistance today:


I sold half of YM longs bought last Thursday at today's top and bought them back using the 'Guerilla' or 'Hit and Run' type of trading at today's lows:


Dow Jones is a potential intraday rally with the i-st wave the longest.  If Indu breaks hard above the v-th maximum allowed target, then more likely it will spiral upwards and my wavecount will be proven wrong.

Will sell the half again at nominal v-th target if the trade goes well based on the Indu 15min chart illustration.  YM stop loss is now trailing at b/e.  Will keep the other half (bought last Thursday) with generous (but not losing type of-) trailing stops 'just in case' the US stock markets go into a sustained rally or a Spiral Melt-up on their daily charts.

I expect the markets will not be able to go into another sustained rally at first try off the last dip if they spend more than 5 trading days from the bottom not being able to reach their last high of Feb 18.  But then the markets have minds of their own.

Shorting the markets at this moment is not advisable despite the massive gap resistance Compq is now testing.  We need more time to determine if a sustainable rally for the next few weeks will become highly probably or not in the next few days based on the Very-short Term Scenario illustrated early last week.

Good Luck