I have combined the daily & 4hr charts this morning; not a lot of change from my ongoing storyboard or the EW counts on the larger timeframes. The red dashed line at 10250-10500 in the daily highlights the break out zone from the Bollinger cluster and the over bought stochastics have eased somewhat and now showing 3 waves down. The 4hr stochs are looking oversold and the 2SD bollys there sit at 12050.
The monthly & weekly charts show price still traversing the upper boundaries of the green pitchfork within the upper side of the blue, although those weekly stochs look prescient - perhaps read my last post from Armstrong for that October 2015 focus!! I am counting this move off the top as a lower order wave 4 inside the red wave 5 of a blue larger wave 3; so anticipate a new high before a larger correction down, in due course into blue wave 4. The pace of the move still has me believing this is corrective, but as yet, it still looks like it is reaching down albeit in the latter stages, if the 4hr stochastics are anything to go by. If Armstrong's view that all governments are following ECM holds, this ride into the top could continue to be choppy.....for months! We shall see.
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