Thursday, January 6, 2011

Pre NFP Bull and Bear

The triangle count and deeper x wave count are no longer valid, but i still think we are in an unfinished correction. The biggest problem is that the 200 DMA is broken, so that is reason for concern. But again this could be a trap like B waves usually are.

I am watching for any bearish alternatives anyway, a triangle could have been in the making for a long time.
NFP tomorrow which could be a big price mover, like it usually is. We'll know more on where the market wants to go.
Geplaatst door op
Labels:

2 comments:

  1. AnonymousJanuary 9, 2011 at 8:21 PM

    Hi Jeremy!

    I want to understand something with reference to the bearish scenario.
    The bottom of wave A is 1.3447 while the top of the wave E (and wave B) comes at 1.3434. There is no overlapping. Is this possible as long as the wave C does overlap?
    To me, this would be an input to learn from.

    Wishing you a great week ahead,

    Catalin

    ReplyDelete
  2. Jeremy DemunterJanuary 10, 2011 at 7:21 AM

    Hi Catalin,

    As far as i know triangles can do this, but i'm not 100% certain. There is another way to count this without using a triangle in the count. Red A becomes W, orange A becomes X, the rest becomes Y ( B = w, C = x, D = a of y, e = b of y and this latest decline is c of y )

    Friendly greetings,
    Jeremy

    ReplyDelete

Subscribe to: Post Comments (Atom)