WXY correction for wave ii fits well; retracing a typical 62% of wave i. It seems (almost) complete. I'm expecting wave iii to extend because of the large base building action. Strong foundation for a large move
I agree if we get past these goddamn bears at 245 we are all clear for takeoff. But I don't understand why wave iii now goes to 287 instead of 270 because of the "correction" yesterday.
user100000
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i believe wave iii will extend because of the time spent basing sideways building a solid foundation. it doesn't look right to "only" move to 267 which is the usual 1.618 * wave i level. also, wave three in general tend to extend usually 2.618 of wave one... bears cannot deny the move up. they can delay it and waste more of their capital if they wish but in the end the market wins
rivet.popper
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"...bears cannot deny the move up. they can delay it and waste more of their capital if they wish but in the end the market wins."