“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC


Thursday, 22 January 2015

22 Jan 2015 - A = C What Now?

Well no #deflategate here for the markets, at least not as far as the charts are concerned.  I have included some lines that makes for possible support resistance line.  Prices now are at the A = C target I was looking at last night.

As an EW count, we need to be prepared with a possibility that if the count is right on, that the next move is an impulsive down move.  But the indicators say one thing and also possible for a lagging effect.  This is why it is good to look at intra-day charts to guide us to what will affect the next time frame higher.  Also if the move down is still a bullish correction then A = C in the bigger scale would have C target of 1963 which is just below the 200day ma.


A weekly close in this range would be bullish...

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