A bit of a hanging man candlestick formation formed. We need to wait to see what happens here.
We are still in a channel for a possible 5th wave down. But I don't see what is going to take us down in the above count. So maybe we are in P2 as I don't see how we will drop so quickly soon.
2 comments:
Ha! nice find on the Vid. Good one. As for the count, P2 for a while IMO and trying to count this crap is impossible. As you may know, I've gone back to old reliable and am trading the 60m indicators up and down. Larger pullback coming sooner than later, but more bullishnes to continue thru the year IMO.
That is the EW count i believe! We are in the middle of a big recession. Expect more bad news rather than good ones!
http://thinktwicetechnicalanalysis.blogspot.com/2009/04/nasdaq100-and-sp500-ew-count.html
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