Thursday, May 20, 2010
One More Downmove To Go
The rally over the last two hours has been an upward 3 wave correction, which points to more selling into the close. However, this should be the last wave down for wave [ii]. Obviously, once we see the nature of the ensuing rally, which should be sharp and significant, we can evaluate the potential for a continuation of the broader rally.
Posted by R. Craig Pritchard at 3:12 PM