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Tuesday, January 19, 2010
DJI - Minor wave 2 has entered its last stages
As can be seen wave c of 2 has become a nice looking five wave rally and the last wave (wave iv) became a triangle and we know what that means. Triangles always tells us, that we will see one more move in the direction of the ongoing trend. In this case a move higher towards 10,680 - 10,690 area. From here we will see at least a correction or as I expect in this case the top of wave c of wave 2 calling for wave 3down below 10,560.
This makes a great oppotunity for entering a short position in the DJI with a stop just above 10,723.50
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