Tuesday, October 20, 2009

STI Updates

Classic pullback today to retest 2680 (a favourite sticky point) before moving up to end at 2711 today.

My daily EW counts have been violated with the breaking of 2685 (wave 4 crossed into wave 1). And after re-looking at the charts, I have re-labelled my wave counts to adjust

It appears from the daily chart that STI has completed a 3 waves zig zag correction downwards.
A fifth wave is in the works to likely bring STI to break 2740.

The million dollar question now is, will these 5 waves be minor 5 of int C, or are these 5 waves merely part of minute 1 of minor 5 of int C. Afterall, the supposed timeline so far for the waves for my preferred counts are

1: 8 days
2: 5 days
3: 1 month
4: 2 months
5: ?????? (11 days so far)

Shall see how it goes; I'm expecting a greenish day of bullishness for tomorrow.

No comments:

Post a Comment

Please Comment >>