Wednesday, June 6, 2012

bias 6/6 - and market stuff

10:53, no clear signal. the following parallel trendlines suggests that the correction that began at 1420 is over. However, the correction was in 5 distinct waves, with waves 1 and 5 being about equal length. according to elliot wave, corrections must be in three waves, which suggests that after a counter trend rally--which can retrace as much as 100%, so elliott is no great guide here) another 5 wave drop will presume.
I had made note of this same trendline earlier when I suggested on this blog that the correction would continue:

No comments:

Post a Comment