Thursday, March 5, 2009

Ok...fogged up slightly...

While it hit my target area, but the count was very fuzzy in that area. Part of it looks like it might be an ending diagonal. So with the unclear count, it is possible that the 5 wave structure that makes up this 5 of 3 is not yet complete and we could extend further south. Timewise any move should be over tomorrow and we should get some sort of reversal. If we do not, its possible the count is far off and we could extend even deeper into the 6's on Monday.

Regardless, it is probably a good time to start building a long position by layering in the deeper it drops.