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Wednesday, September 30, 2009

DJI - The current downmove look impulsiv

(Click at the picture to enlarge)

The current downmove look implusive and the break below 9,620.89 means that the top of subwave i has been broken, which eliminates the irregular falt Alternate count I metioned a couple a days ago. That leave us with the only two possible scenarios:

1) The favorit is that wave [B] found a firm top at 9,917.31 on September 23 and wave [C] down has begun, this wave should ultimatly take us below the March 6 low at 6,469.95.

2) That the structur since mid August is a ending diagonal and wave d is currently in progress. If this scenario is to stay valid support at 9,507.77 should not be broken at any time, if this support breaks I would not consider this alternate count anymore.

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