Blog Archive

Friday, April 27, 2018

27 April 2018

It appears that new highs may be in our future.  Let's see how the next few days play out.   This scenario shows a bounce off the upper trend line at d.  Then a bullish recovery to somewhere over 3000 after completing wave e to finish Wave 5 .
But this should be a 3-3-3-3-3.
                            (  a-b-c- ? - ? )
Does Wave a and Wave c look like three or five waves?

 If this count is still unfolding it would mean a swift decline is eminent as the market falls into wave (iii) of [i].  This count should be 5-3-5-3-5.
                                              (   [i]-[ii]-(i)-(ii)-?   )

In each scenario an argument for the correct wave count can be made.  The question is do you see fives or threes in the descending waves [i] and (i)?   If you see fives then it's bearish.  If you see threes then it's bullish.

This is a classic example of a triangle playing out right now.  Notice the explosive actions after Wave e!
It is common for this burst to be equal to Wave a

No comments:

Post a Comment

Today's Feature