Downside pressure is Building after the correction from late 2008 seems to have run its course. The rally of the November 16 - 2008 low at 3,314 has clearly been corrective in nature, which is call for a new decline to below 3,314 in wave Y once it really gets going.
We are still only in the early part of the expected wave Y, but a break below 4,930 will be a very strong indication, that wave Y is indeed evolving and a break below important support at 4,632 will confirm, that wave Y to below 3,314 is ongoing.
No comments:
Post a Comment