Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Friday, 12 July 2013

Musing on the Dow

We are so close to the prior high at 15540, it would be foolish not to believe the market could go for it in a 5th leg up in a Wave 5. However, until that high is reached, the 'c' wave in a 'B' or wave 2 correction is still on regardless of sympathies and even then could be an expanding flat correction overall. For now, we are coming to the end of wave 3 or 'c' altogether. The prior wave 4 low is at 15256, so I'll take my shorts to there at least and decide what to do at that point. Anything completely different in look and we will know soon enough if this was indeed just correction up.


No comments:

Post a Comment