Preferred count:
In this count, we are still in intermediate wave A of Primary B. It has been 1o months so far, including the 5th wave.
My main concern is, if there's still a intermediate wave C of same time frame coming, then it would be at least another 10 months... Supposed intermediate wave B is 5 months, that would give us a total of 25 months for Primary B, which is a little too long in my opinion, given that Primary A took only 17 months. Because of this, the alternate count might be more valid.
Alternate count:
In this alternate count, the 3 months long ascending triangle is labelled as a wave X instead of a wave 4. This count signifies further upside to come, which would lead STI to achieve greater than 61.8% retracement level of 296x...
These... are assuming we are indeed in Primary B corrective wave, and not Primary 1 impulse wave...
Given the uncertainty in wave counts, markets and economy, I will still stick to acquiring defensive dividend stocks...
On the shorter term... we might likely be in the midst of the 3rd wave of some impulse wave...
Would it be the 5th wave or the A wave of A-B-C-X-A-B-C, or neither? Only time will tell.... I'm not a fortune teller anyway...
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