Monday, August 23, 2010

Stuck in the middle right now

The alternate count from last post becomes nearly impossible. So i am now focusing on bearish counts. This one looks like the most probable. Green wave 5 could extend, but that just pure speculation based on the fact that we're in a bigger wave 3 and we should expect surprises to the downside. If it doesn't, we could get another 3 wave correction, where price has to stay below blue ii's high. We have to wait and see for the correct count, but the main direction is pretty certain, down.

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