Anon alluded to this: If yesterday we had a low of a larger degree than what you are thinking, Steve, we had 5 up from that low, so now we could be in an ABC correcting down from this morning's high. The triangle would be the B wave of that ABC. And that would suggest lower prices for the C wave. But once the C is done, we would move higher to prices above this morning's high.
Took a small profit on my earlier 'breakout' short... I think we might see 1060+ before resuming the down swing. - shabs
ReplyDeleteSteve
ReplyDeleteAre you still looking for MINUETTE 5 to complete at around DJI cash 9900 by I1 bottom?
What does I1 stand for? MY guess (INSTINCT 1).
Jack C
A triangle like that says "4" or "B" or even "X" to me. Can't quite fit it into a good count. -shabs
ReplyDeleteyes, it certainly does look like a 4th wave. Funny how the market seems to time these long drawn out 4th waves (or B waves) during the lunch "hour".
ReplyDeleteAnon alluded to this: If yesterday we had a low of a larger degree than what you are thinking, Steve, we had 5 up from that low, so now we could be in an ABC correcting down from this morning's high. The triangle would be the B wave of that ABC. And that would suggest lower prices for the C wave. But once the C is done, we would move higher to prices above this morning's high.
ReplyDelete