Saturday, August 27, 2016

MTU Weekend Ed. - Twist or Turn (8/26/16 close)

Recent stock price actions offer possibilities of a correction, either a twist (a shallow correction, the blue count in Chart 1) or a turn (a deeper correction, the red count in Chart 1). As we have observed in the past, a retest of the breakout area around 2075-2100 also looks probable (Chart 2).

At a higher degree (Chart 3), the twists could correspond to the blue [iv], the green 4, or the green [ii] pullback. The turns could correspond to the red C top. Chart4 shows how these twists and turns can fit into wave structures at even higher degrees.

Last but not least, Chart 5 and Chart 6 update how a potential DAX triangle is faring.



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