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-UPDATE (7:30A PST): What I do have to add is wave [v] could have completed at today's top of 1037.75. if yesterday's 1022.48 low was the end of wave [iv] and today's new high of 1037.75 completes wave [v], we could be pushing lower.
Could that be the top of P2 or the larger flat for Minor B. I will post a chart later if it looks like a potential flat for Minor B.
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Looks like our wave [iv] took a little detour but not to fret. It appears to be developing a flat. If this is correct, a legitimate flat will carry price down to at least where wave a (red) began and just a little lower.
If wave c (red) becomes 1.618 x wave a (red), then it should target the 1018 gap below. Of course a Running Flat would cause wave c (red) to fall short of 1022.
I have added today's action and projection in red.
By today's action so far, it looks like we will go higher once the wave [iv] flat completes.
Click on the link for a definition of a Running Flat.
wave, tell all of your friends following, ewi dan and kenny that they are going to loose their pants if still trying to short the market.
ReplyDeleteBut dont tell them it was me who said it.
all followers of ewi rmind me those people who committed suicide wating for dont know what kind ufo to pass by and take them to ...gaminedes was it??
of course that ufo is their famous P3!!!
Jose,
ReplyDeleteThat may be but I wouldn't count their call out just quite yet. I think it would be foolish to believe wholeheartedly in either direction at this point.
I agree the trend is still up but I still think it carries more risk to stay long. The euphoria right now is starting to remind me of the dot com bubble. I'm not saying this is a bubble per se, but the euphoria is not justified at this point in time.
Let's just say the social mood/sentiment has now swung to the over-optimistic side just like it was overly-pessimistic at the march lows.
GL to you!
thanks for your kindness.
ReplyDeleteLook there are many ways to explain wht's going on. If you have ecometrics knowledgments for sure you know.
If you dont have read about austrian liquidity cycle.
No retracements, straight up to last top. 2007 top.
thats is why i am always asking for an ultrabullish count.
good luck to you too
the market didnt crash!!
ReplyDeleteagain!!!
how is it possible it made a new high??
ohmy!!!