Good Morning

There is very stong resistance on spoos at 822-825. There is a Wolfe Wave pattern developing this morning, which is the opposite of a coil ( > ). It looks more like this (< ).The Wolfe wave predicts a move eventually back down to 802 in the Spoos. We are lookin at a consolidation day. The best way to become a better trader is to learn from your mistakes. Yesterday afternoon I got caught in the habit of trying to catch the knife. I used stops to limit my losses , but truly was fightin the trend. Discipline must be abided or you P and L will suffer as mine did yesterday. The top of the Wolfe wave is 823,The bottom is 801. Rallys should be sold as we will test yesterdays lows in the next couple days. The first support is at 797.00. The Gietner story will develop over the day and the markert will react to it. Use stops , and stay disciplined. Earnings in stocks will create plenty of oppertunity in the next couple of weeks. Look for some good two way action today. If I see anything during the day I will give you a heads up on Epiphany. Good Luck Today, Regards, Frank