Mar 20, 2015
Update
Update - huge gap and sharp reversal in Biotech 4% from the top.... wave 4 has begun?
The line in sand is now defined. The move lower yesterday was corrective so SP500 could try to make a new high, but now you know when to turn bearish.
And the Dow green-red-green-red... overlapping waves this should be a corrective move. Best case for the bulls new marginal ATH to finish the wedge.
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I like your analysis and certainly hope this Wedge ends soon! I expected a top to form some time ago but it's kept on grinding upwards. All the best, Paul
ReplyDeleteYes it is frustrating 4 months already.... since the end of November the index is moving sideways ok the slope is slightly up 20-40 points higher, but so many zigzags up and down.
DeleteI hope that I am right and we will see finally a directional move.
Do not get too bearish I think it will just a normal correction 8%-10%.