1. Going on a hunch here that the true wave reversal occurred at the second bear rejection.
2. This puts us on Wave 3, which I suspect has not topped yet.
3. We may say a cup and handle form on quarts before breaking 5,000
4. Followed by retest of trend line during a choppy Wave 4
5. Finally arriving at the true ATH near 6,000 before another corrective wave.
Stay Long.
2. This puts us on Wave 3, which I suspect has not topped yet.
3. We may say a cup and handle form on quarts before breaking 5,000
4. Followed by retest of trend line during a choppy Wave 4
5. Finally arriving at the true ATH near 6,000 before another corrective wave.
Stay Long.
Kommentera:
The rally is proceeding much more rapidly than anticipated. There may not be any more major corrections until the 5750 target. Short positions are NOT adviser, however, this is a great place to start locking profits down if you have been in a long position.
Kommentera:
If you took profits near 5750, congratulations! The correction occurred soon after hitting the price target. Given the bullish strength, I believe the correction is now complete and we will be heading back up.