Here is a count from GBT and Rob46 over at StockTock.com. This alternate count shows that we are in wave 4. But this one has an extremely high target (around 91.1 for a 38% retrace). My thoughts are that it will be hard to distinguish this count from a primary wave 2 count for quite some time. I don't see anything wrong with this count and it looks fairly natural. KUDOS to GBT and Rob46 for sharing this with us...wished they would have shared it sooner :-PThe daily stochs are still way overbought, so I expect some pullback soon.
1 comments:
Nice Charts! Good to know about the VIX too, had not noticed that today amidst all my hand wringing!
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