Thursday, June 17, 2010

Triangle Forming In BIDU

BIDU may not pullback over the next couple of days to complete wave e of the triangle, but if it does the triangle targets 86.88 to 99.66 (100). AAPL is moving higher without completing its triangle and BIDU may too, but if a real triangle does form we will know that the next advance is the last for some time in BIDU. It will probably complete cycle wave 3. Thereafter we should see a correction to around 60 before cycle wave 5 begins.

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