Nov 19, 2014

Update

Careful now... we have the expected higher high and it looks like an impulse so it could be the final wave to finish the whole move higher. If it moves back below 2040 I think we will have at least short term reversal.

5 comments:

  1. Hello, thanks for updates ... so now we are heading to 5 on your latest chart?

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    1. Hello, no it is something else.... I have no idea what it is but it looks like a-b-c so it is possible that we saw the top already.
      Market breadth is awful, the cycles say it is time for something to the downside. Looking at the DAX and RUSSELL2000 I think they already made a top.
      Of course another marginal new high is possible, but the risk to chase more upside now is too high.
      I am just waiting... 2040 held twice and we know where the confirmation is.

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    2. Thanks Buddy .. you are one of my sources taht I rely on his analysis :)

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  2. krasi, any new opinions on EEM with today's strong move up? also, what is your take on FXI? thx...

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    1. Hi, no change. It was expected, you need a second leg higher for a three leg corrective move.
      If the price moves impulsive above ~43,50 which is resistance , 61,8% Fibo and where the second leg would reach the same size like the first one, than the picture will change.
      Until than wave 2 is running and wave 3 should start from the 43-43,5 area.
      I think FXI has the same pattern.

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