Friday, September 25, 2009

OIH Update: 9/25



I posted a chart a while back on the OIH. I think I was a little early on that but I think this may be a more accurate count.

It appears a wave 'c' may be in the works. I guess we will have to see.

Of course the alternate is that wave 'b' was a triangle that retraced 'a' and 'c' would have much higher to go. However, I am not so sure of the alternate given the negative divergence seen in the MACD. But then again, we have seen a negative divergence in other indexes as well for a while now.

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