Oct 11, 2016
I thought with the 50 points plunge in September the market is out of the coma:).... no it just got worse. Without doubt this is the choppiest and the ugliest pattern I have ever seen lasting so long. We have one month of triangles with 2-3 sharp but short living moves up and down. Yesterday we saw another candle with long shadow touching the trend line and closing below MA50... not really bullish. I still think that we are in some corrective structure. This "B" wave is stretching and stretching and stretching... first it looked like zig-zag than like triangle and now like zig-zag with triangle in the middle section(white count). If we see higher prices probably B of higher degree(red count).... I have to be very creative to see an impulse and to expect new ATH with this mess.