I'm not thoroughly convinced of this count but thought it would be worthwhile to put out there as an against the grain count. The consensus of EW Bloggers I follow have a corrective combo for Minute [iv] ending tomorrow (not to break 1021) prior to a Minute [v] thrust higher.
Somehow, I felt I should put this count out there as well since the corrective waves from the Minute [iii] top is quite confusing and has been a challenge to count. This count implies that Minute [iv] has more to go and that would be down to complete wave y (red).
The triangle subwaves of X may still have some room to develop. Once complete, I will be watching to see if it breaks lower.
Earlier in the day, I posted on Dan's blog that overall this pattern looks like a bullish pennant forming since the 8/17 low. However, upon closer examination, this pennant may be forming off wave w.
We will see what happens tomorrow!
oh!! ewi and dan have just issued what the market is gonna do!!! i will keep my shorts!!!
ReplyDeletei am a beliver!! i am going to ask for a credit to do what they say!!
and now let us analyse waht they say....
ReplyDeletelet me remind you all that we are going to face: a deflationary scenario (Prechter says that not me)
at the same time they say that there is a chance that p3 will be made in time not in price, this means that these levels will hold for years until time erodes value.
ok
but listen when time erodes value is when there is a high-inflationary scenario, if it was a deflationary scenario time will ADD value to assets that dont change their prices..
so here you have another contradiction in their issues.
wave,are you reading about austrian liquidity cycle??? interesting yes?
ReplyDeletethat is a part of a very complex theory, but austrians put that in simple words for people who have no econometry knowledgments understand it.
is is funny everytime they pump money stocks skyrocket...