Prices are coming up on an important downtrend line.
Tuesday, March 29, 2016
Thursday, March 24, 2016
Wednesday, March 23, 2016
Friday, March 18, 2016
Wednesday, March 16, 2016
I guess the best count is that we are headed for the open gap down in an extended wave v of (c) of [ii] of 3 down. This makes sense because waves i and iii of (c) were about equal.
Another view. Nothing is easy in this market. Not quite 61.8% retrace of the total decline. But we have been predicting a sharp rally since identifying the low in February.
You can see the GDOW is also challenging its big gap down.
Posted by Daneric at 6:53 PM