Wednesday, October 28, 2009

10/28 - OIH Rollover?

I had to adjust the count from a previous post but I think the OIH may have completed a nice A-B-C correction from the March low.

Price completed what appears to be a very nice looking ED, with a wave 5 overthrow to boot. Price has since retraced and broken through the lower wedge line.

MACD also broke through its trend channel.

We shall see if she follows through tomorrow.

I did not include this on the weekly chart, but price has retraced 38.2% of the Jun-Mar slide.

***Disclaimer: I marked these counts without regard for proper degree labeling.


  1. Hello Champ! The thing I like about your blog and the way you think is that you are focused and concentrate on what is important then provide it to your reader in a beautiful, simple, succinct, and accurate way. You really deserve more attention.

    Grand, I hope I could give you more than one award to bring more people towards your blog. Hey, I might do it. Just keep at it! :) Please, ask for producer next time you get into the lounge. It is very easy to upload the whole chart into the lounge instead of only a link as you do. Posting a chart attracts people's attention more than a link. You saw that sometimes comments run over each others quickly. You can also add the link below the chart. Have a good night and profitable tomorrow.

  2. thanks for the positive feedback GV!