So should we look for this to be an "abcde" wave 4 where we
could see a nice drop back towards support late in the day for wave
"e' and then a blast off thereafter??? As a friend pointed
out to me, not much to move the markets today.
That's certainly one possibility or the pullback could have been
an ABC that is complete. Remember Wave "e" does not have to
go back to the lower trendline under your scenario. There are
many possibilities so respect your indicators in the
short term.
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$SPX--nice triangle
SPX 5
Posted by perthx on 26th of Oct 2009 at 10:36 am
So should we look for this to be an "abcde" wave 4 where we could see a nice drop back towards support late in the day for wave "e' and then a blast off thereafter??? As a friend pointed out to me, not much to move the markets today.
That's certainly one possibility or
Posted by steve on 26th of Oct 2009 at 10:45 am
That's certainly one possibility or the pullback could have been an ABC that is complete. Remember Wave "e" does not have to go back to the lower trendline under your scenario. There are many possibilities so respect your indicators in the short term.