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Monday, June 1, 2009

Microsquiggles


This is a creative count to say the least. I am trying to find a 5 wave structure in here and it requires a final move higher than 847 to confirm. Without the move higher it is definitiely an ABC

To be honest it looks all "ABC" ish. The only problem is that there was a triangle breakout and that suggests a 5 wave pattern is in play. So really, the only way this count works well is if there is another move up tomorrow otherwise I could easily label this an ABC with an expanded C wave (of approx 1.618).

I hope it turns out to be a 5 wave structure because we need to just get on getting on with P2.



4 comments:

  1. that is actually a very good short term wave count . given the rally length to date
    we would be within a few days of some sort of a top .

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  2. nice job here, love your 1 min. charts.

    I suppose we could move lower tomorrow, then stay negative for the day not invalidating the 5 wave idea.

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  3. Would rather hook up with a solid intermediate move. However the thrust after the triangle was tradable as is the top of the upcoming fifth wave...trying to stay positive!

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  4. Dan...

    Sure you meant to write "947" to confirm (you wrote "847"). But anyway...confirmation attained this AM.

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