1. This is 2012 - 2013 BEAR MARKET where the low price was recorded on June 24, 2013 at around $1,180.
2. This is 2013 - 2014 BEAR MARKET where the low price was recorded on November 03, 2014 at around $1,130.
3. This is 2014 - 2015 BEAR MARKET where the low price was recorded on November 30, 2015 at around $1,046.
In my first one analysis, if my calculations are correct about EW where the year of 2015 is estimation low and sign , then chances are $1,046 lower in 2015 was as a BOTTOM CYCLE (0,62 * ($1,921 - $252) = $1,035) where this price is nearby with $1,046.
4. This is 2015 - 2016 INITIATE BULL MARKET where price was rally from $1,046 Low of November 30, 2015 (The explain of can read in this post), and the last is
5. The 2015 - 2016 BULL MARKET STAGE-1 (EXTENDED INITIATE).
The chart above is my first approach using the 1st 42D To Closed Above 0.5 Fibonacci ($1287 and $1210) and the 2nd 42D To Closed Below The Low ($1287, $1210 ideally $1046) and 77D To Closed Above The High ($1375). In the chart above we see that the 2nd 42D is overlap with 77D and based on the previous history, price tend to move higher as long as consistently move above $1,210 or at least above $1,287 until the end of the 2nd 42D or until the end of week 2016.09.26 (minimum) or 2016.10.10 (maximum) ?. Would it be up trending consolidation move until week of 2016.09.26 or until the FOMC ? Bull at least must be able to reclaim a move above $1,333.
NO ONE KNOWS, EXCEPT A PREDICTION
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