TSE Feb 1 ,2010

Quick update on . It did the proverbial 1000 points, just shy by 20/20 0r so- now what? Here are the charts in detail;

TSE Feb 1 2010 TSE feb 1 2010 2

The charts have different time frames! Click on them to enlarge.  The entire drop too about 3 weeks therefore the counter-trend wave 2 might consume about a week to 10+ days, on average. A minimum retracement would be about 400 points and perhaps even 600. Looking at the last leg down AND given the surprisingly negative tone after the great GDP numbers in the US it points to a wedge (diagonal 5th wave); if correct we should at the very least get back up to 11420. If on the other hand we are looking at a 4-5, 4-5 series this logic does not apply, but 400 points up does. If this is the beginning of wave 3 of a larger degree , it may pay to err on the cautious side and get short earlier rather than later.