Thursday, January 21, 2010
Line In The Sand
I've updated the unfolding progress of the combination correction. It may be that wave c of [y] has completed with this morning's low, or nearly so, but typical downside targets for broadening formations are about 1/2 the width of the pattern. This puts the downside target for c at 44.82, which is still above the support level of 44.73. Another possibility is that c could turn into a double zigzag which could move the bottom of the correction into next week.
At the moment I still don't see cause to believe that the top of the rally is in.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment