Chart says all. updated prior post with corrected line positions given interval price changes. C wave length and duration mimics A wave. The H&S pattern appears to be an extension of the correction but note it is also a pennant, or continuation pattern. The trend: still down, entering a fifth intermediate of primary third wave. expect double bottom to retest 233...
Wow what an amazing jump! Does it mean the bears are back in hibernation? Doubtful.
Boxing Day's record 1k rally was just an impressive a-leg of an a-b-c minor correction after a punishing 3rd Intermediate wave in the current bear wave. Trend is still Bear!
Note in chart the abc pattern extension to 0.50 Fibo coincides with the 0.618 Fib retracement of the...
On the weekly chart, it seems as if we are approaching a top that should give us a reasonably substantial correction sometime during 2018. However, on the shorter term, the market it still pointing up, and therefore, is still good to buy on intra-day and intra-week swings to the upside. Historically, the market finds some kind of resistance when approaching round...
