MT: DOWN
ST: UP
PA: NA
Monday 21 April 2014
21 Apr 2014
Its a critical time on an EW basis. The 1-2 1-2 count will be void once a price makes a higher high past the Apr 9th high. A 3rd wave down would have prices moving down in a impulsive an severe manner. These two would indicate if we are on the right count or not. We have reached the CIT range as well and in an overbought scenario also. I would expect a pull back soon and will see how the characteristics of that pull back behave to know where we are, and where we aren't.
MT: DOWN
ST: UP
PA: NA
MT: DOWN
ST: UP
PA: NA
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Hi,
ReplyDeleteThx for update. Currently, if not 1-2,1-2, either the correction is doing a running flat or expanded flat from 1897 high
W-X-Y (or) 1-a-b-c now.
Either way a C or 3 rd wave is due barring all time highs.
When looked at WLSH index, it favours bears as of now.
Please share some thoughts.
Thx
The low from 19250 low for the WLSH is impulsive in nature suggesting that its either a C wave up or a start of a 5 wave pattern higher. Any high made past the April 9th high would suggest that a new high would occur but not guaranteed as wave counts could have multiple probabilities. For now the market is at an upward bias.
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