Tuesday, March 15, 2011

A dangerous uptrend

After the big spike up late last week, price gapped up early this week. After that price decided to fill the gap in a corrective way. I'm counting that corrective wave as an expanded flat, the wave c of this expanded flat is 161.8% of wave a. It is possible that the uptrend has resumed now, but this will be messy since it's still all corrective wave action.

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