Translate

Thursday, September 17, 2009

DJI - Sorry, but new count is necessary


(Click at the pictures to enlarge)
I have been back to the drawingboard, because the break above 9,629,37 was conflicting with my original count.
Originaly I saw the bear-market rally as a triple Zig-zag, but with the break above 9,629.37 that count was no good. Looking at my current count and my former count I do think, that the present count is better and more simple. Let's go through the new count.
In The first Zig-zag from 6,470.11 black wave a and black wave c is equal in lengh. If my pressent count is correct, then at 10,455.11 the red Zig-zag would be equal in lengh to the black Zig-zag. Looking at the red a-b-c Zig-zag internally, then at 10,502.09 red wave c would equal red wave a in lengh. In that area we will also meet the major bear-market trendline, while the 50% retracement of the fall from 14,198.10 to 6,469.94 comes in at 10,336.57. So within less than 200 points we have four important resistance levels.
Looking at the ongoing wave c of the red zig-zag, we should currently be in wave 3, which will most likely finish near the 10,200 mark, making this wave the extended one setting the stage for wave 4 down close to 10,040 before wave 5 of red c higer towards the 10,455.11 - 10,502.09 area, finishing primary wave [B] setting the stage for wave [C] down to 6,469.94 and below.

No comments:

Post a Comment