Tomorrows Outlook

Oct 31st, 2010

Going into tomorrow our outlook is that if the TF breaks the 710.00 high then we should see the 730's pretty quick. Of course there are always two things that could happen and if we go down the target is 683.00. It is knowing the two outlooks and then gaining odds on which one should play out and since the market is still in a up trend the odds favor 730 before 683. We will not know until the market opens.

Even though most traders have been trying to pick the top of this wave since the 8/24 low we have been long and each night we do a video to break down the wave into smaller waves so we can get levels for day trading.

It is important to stick with the pattern until the pattern is broken no matter how strongly you might feel we are nearing a top. Nothing is worse that picking the top to soon. Not only will you lose on the shorts because you are too early but it will be hard for you to get back in long so you push yourself into a corner and most of the time it is a negative outcome.

Watch these levels for tomorrow going into Tuesday!

Happy Trading,

www.eMiniSchool.com