Do you believe we are in an expanded flat 4th wave at this time with an expected move towards the 1170 area to complete the 4th wave before going up in a 5th wave to new highs or is the 4th complete and 5th almost done and we are going to get a correction before moving higher in the C wave as I1 seems to be indicating(if the later how big a correction would you expect after this last 5th up from the August lows is finished?) or is it possible that wave C is over as EW says and we are starting wave 3 down to new lows. A move below 1129 would surely mean we are in wave 3?
Hi Jack, I1 suggests an expanded flat 4th wave. I'll be shorting tomorrow as the nominal 3rd wave high is already in. I've been downplaying the stock market because shorting has to be done in brief time windows until the 5th wave is complete. I think EWI is wrong calling the top here.
Steve
ReplyDeleteDo you believe we are in an expanded flat 4th wave at this time with an expected move towards the 1170 area to complete the 4th wave before going up in a 5th wave to new highs or is the 4th complete and 5th almost done and we are going to get a correction before moving higher in the C wave as I1 seems to be indicating(if the later how big a correction would you expect after this last 5th up from the August lows is finished?) or is it possible that wave C is over as EW says and we are starting wave 3 down to new lows. A move below 1129 would surely mean we are in wave 3?
Jack C
Hi Jack,
ReplyDeleteI1 suggests an expanded flat 4th wave. I'll be shorting tomorrow as the nominal 3rd wave high is already in. I've been downplaying the stock market because shorting has to be done in brief time windows until the 5th wave is complete. I think EWI is wrong calling the top here.