Monday, November 21, 2016
This orange fork appears to be placed correctly but I have also drawn a wider lavender fork which I expect will become more valuable after the bottom tine of the orange fork is broken.
I'm not an EW expert but I agree with Dan that this looks like the last 5 wave formation in a very long Bull market. Once again I'm becoming concerned and expect a very large downward correction to levels we have not seen since 2012. The yellow fork starts at 666 March of 2009. Once the yellow fork is broken we will know that the trend has changed.
Posted by Robert Campbell at 07:52