Will Wong
Long

DIS-Uptrend starting 2009 looks to be completing wave 3 of 5

NYSE:DIS   WALT DISNEY COMPANY (THE)
54 3 1
DIS did not make an all time high in 2007 like the DOW and the SPX             but made up for it in the latter years. It looks like it is in the ending stage of wave {iii} which is calculated to end at $109.42 (current $108.43) This is calculated by tagging the height of wave ( iii             ) onto wave (iv). Since the current price of $108.43 is so close to $109.42, wave (v) can go higher without violating the rules as long as wave ( iii             ) is not the shortest. If wave (v) ends at $109.42, then wave (iv) correction could drop DIS to $102'ish. Based on my other post of the giant cup n handle target of $139, I am projecting {v} to go as high as $139.
DIS reached an all time high of $108.94 on March 20. The calculated target of wave {iii} is $109.42 but there is no requirement that wave (v) should be the same height as wave (iii). 2 days of decline took DIS to $107.08. It looks increasingly likely that wave {iv} has started.
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Will Wong be right? We hope so!
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Will Wong samuel.grace.12
Ha Ha Ha! Nice play of words with my name. Never seen it before. BTW, if the count is correct, we should be seeing a turn at $109++ followed by a wave (v) correction to $102. I think I will take some profits at $109. Besides, they tend to stall at round numbers like $110. Time will tell.
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