Friday, February 12, 2010

Still correcting but is it a triangle now?

Well, I keep trying to call the correction over but the market keeps right on doing its own bidding. Neverless the movement seems to be developing into a triangle. If that turns out to be correct, there will only be one more 5 wave leg short before begining a larger degree iv wave correction. I think a likely stopping point for the final thrust out of the triangle will be 1.5453. If it breaks that point in a strong way then the short could continue down till meeting the trend line on the left. I will update the end point of wave .5 (currently 1.5453) depending on where wave (e) of the triangle actually ends up finishing.


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