In Chart 2, wave Y-up (from the blue X) is about equal in time to wave W-up. Wave Y-up is at a respectable magnitude with respect to wave W-up.
The latest advance from the October low now has 7 unfilled gaps (Chart 3).
Sunday, December 29, 2019
MTU Month-End Ed. - Time, Price and Gaps (12/27/19 close)
In Chart 1, wave B-up is about equal in time to wave A-down (from H1) and about 4 times in time as wave A-down (from H2). Wave B-up is at a respectable magnitude with respect to wave A down.
In Chart 2, wave Y-up (from the blue X) is about equal in time to wave W-up. Wave Y-up is at a respectable magnitude with respect to wave W-up.
The latest advance from the October low now has 7 unfilled gaps (Chart 3).
In Chart 2, wave Y-up (from the blue X) is about equal in time to wave W-up. Wave Y-up is at a respectable magnitude with respect to wave W-up.
The latest advance from the October low now has 7 unfilled gaps (Chart 3).
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As MTU notes, the US INDEXES balanced time of the 2018 Jan-Dec decline in late Nov. But what is more interesting is the pattern as I have have seen it before and apart from a bit more possible lift in the next week or so if it follows the pattern (as its had strong consistent correlation for long time) there should be a halt and correction. BUT after that the big question is will it move up or down on a larger deg scale. There is technical evidence for both because while this pattern is bullish there are other patterns also clocking off on the larger moves that are not.
ReplyDeleteRecent talk of a "melt up" should be viewed with caution and based on the timing count I don't believe it would be possible until after March if one were to happen. The downside risk is greater (depending on what the individual stk chart shows).
I recently reviewed a large array of charts and have discovered evidence on the most probable moves for 2020. I am preparing a report for a group of investors who I periodically supply info - those of you who would like a copy contact me at mktman@protonmail.com for details.
The report will explain the possible moves in both directions and the best way to set up a trading position to cover either contingency with minimal risk.