Hope trade fails

As predicted the Hope trade failed and the markets turned lower. The Dow closed below 10,000 again. This number is not really important but it is a psychological number for the Bulls. They made a big deal of it on CNBC when it was surpassed for the first time. When it goes down, the media ignores it. But everyone is aware of it and they don't like it. The other indexes also have their milestones which will be broken. The next milestone for the Dow is around 9600, and then 9200. I think these numbers will be reached and then broken. Stay alert! When wave 3 is finished there will be a powerful wave 4 uptrend.