Sunday, October 11, 2015
This correction higher is going on way too long to keep calling it a wave ((iv)). I simply analyzed and labeled the chart according to a price closing basis, where waves ((iv)) and ((v)) completed several weeks ago, completing Primary wave A. This long choppy slop sideways to up since then is Primary wave B. Which, by the way, should be concluding soon as it is possible to count the final rally higher as an impulse wave from numerous different perspectives.
Primary wave C down should get underway quite soon, perhaps as early as this upcoming week. C waves are 3rd waves, and impulsive, so it should be quite a strong affair downward. I'm looking to add to my short positions on a topping formation and/or strong move down on solid volume.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.