OK, that was the retest of support (green line). Markets should resume trending up (wave iii) soon. 1600s likely within a couple of weeks (same time or less than it took to form wave i)
Comments
alizza1
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Are you sure that is wave 2 ? Wave 2 generally retraces 50 or 62% of wave 1 normally.
member00
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dont think you are applying these indicators right
alizza1
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@member00, That massive dip from ath confused me, but to me it looks like we are entering wave c of a running flat. That is assuming the correction started around 1260ish on the 16th. Wave b retracing over 90% fits, and that would mean the final C wave would terminate to the same bottom as wave A, which would bring us back under 900. I don't think that is right either though. What do you think ?