Smart Trades Update 11.28.11 S&P, Bonds, TLT, Apple, BAC, Euro

[fedchairboy]

nice job nailing last swing bottom

[T1systems]

@fedchairboy Thanks for the nice comment. I just posted an update today via email.

[Lonelywolf67]

Thanks for your update Bill. One small question please concerning the B wave which is about to unfold (about 5:33). Do you expect one more retrace of the most recent pop to the 1140/50 area or a rise to about 1300 from the current levels?

[T1systems]

@Lonelywolf67 It's possible we could test 1140, but so far the rally from 1158 looks impulsive. Breadth ratios are solid. A corrective decline to a higher low (above 1158) supports the idea the low is in, as does a strong push through 1200-1215. Moreover, basis the Dow futures (YM), wave "-.iv" has already overlapped "-.i" breaking that bearish count. There are a variety of counts which may evolve and yet take out 1158. I'll update these in my newsletter and Twitter if they occur.