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Friday, October 23, 2009

DJI - As support continues to hold I still don't know for sure if the top is in place


(Click at the pictures to enlarge)
The rally from 9,917.01 has become much bigger than expected, that does bring the altenate count of a flat correction since the October 19 high at 10,117.81 in to play. I still prefer the top being set on October 19 (closing high) and the impulsive decline from 10,119.17 count, but as long as I don't see a close below support at 9,931 and more importantly 9,827.87 I can't exclude a push higher towards 10,138 and maybe even 10,178, but as I said I don't favor this picture at the moment, but will stay flexible.

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