The inverted Shoulder-Head-Shoulder objectiv has been fullfilled with the high at 1,246.70. We can count a five wave rise from 1,040.40 (not the the most beautiful) and it does fit into the the longer term view as a complet A-B-C rally from 1,011.52 (see the chart below).
It also fit into the Brenner and Amrstrong cycles (see my November post here http://theelliottwavesufer.blogspot.com/2010/11/armstrong-and-brenner-cycles.html)
Calling for a top in 2010 for a decline into April.
Ofcause we need to break som support levels before we confirm the top. A break below minor support at 1,216.89 would confirm at least a minor top, while a break below 1,173.11 would confirm a much more serious top.
Should not it be that in diagonal a,b,c,d,e
ReplyDeletee wave shoud be below previous 4 wave?
Hi Pilaxx,
ReplyDeleteSorry but I'm not sure which diagonal you are talking about?