We saw a high at 1,099.36 yesterday, but we didn't close above important 1,097, which keeps my count alive.Still I would like to show you an alternative count for the entire decline since 1,219.61. It could be a Leading Diagonal (See the EWP page 40).
All the waves 1 to 5 is of the zig-zag kind, but they all alternate from each other. As can be seen the rally from 1,011.52 could also be counted as complete or very close to completion.
As long as 1,090 isn't broken to the downside the minor trend is up, but a break below 1,090 would be first indication that a top is in place, while a break below 1,070 will confirm the top.
No comments:
Post a Comment