Now folks if my count is correct here on the equity indexes, we are definitely in WAVE 4. Now why I have been on the fence is because WAVE 4 is the most difficult to trade but the great thing about WAVE 4 is that you are very sure you are in it when we chop with little direction.
Now what do you do when we are in a WAVE 4? Well at least you know there will be a WAVE 5 and that should be the conclusion of the last trend, so note of caution to the bulls here. So yep it matches up with my time zone of another 3-4 weeks maybe of upside (WAVE5) THEN WE SHOULD SEE THE END OF THIS RALLY.
Since March I said 1050 area and possibly 1096 and we have seen those numbers, the only other number I have is a 1114 but I would have to check back but it is safe to say 1096 on the analysis of a March significant low should make a technical topping formation area.
We will see how this pans out and see how we react if and when we get to 1114. Again warning the bear market is by no means over as I still think we are in WAVE 2 of the bear market. We will soon see.
MARKETJEDI
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment