Chart from ELWAVE ridershows and explains very clearly what we've been watching unfold since
October 4th
it indicates an EXHAUSTION of the uptrend, complete with an overlap of wave 2, and an overthrow of wave 5 as of this morning at open
the AFTER effect can extend a sell off for many months
OR
HIT immediately erasing all of the previous gains within a brief time period
and fall back to the point where it began.
Jay
Interesting how the signification of a 5th-wave ending diagonal "too far too fast" matches your reading for yesterday: "unrealistic expectations".
ReplyDeleteBy the way, how do you do these readings?
Hi Lex
ReplyDeletesorry, that info is one of my secrets
Thats why people come here- to find out what Ive discovered
the things I bring to analysis is far different from any other blog on the web
but I do try to marry that info with technical and wave content
Jay
OEX - pc ratio has been BEARISH all last week
ReplyDeleteclosed at a very LOW .38
BULLISH SENTIMENT Abounds
Jay
Pomo day helge says we reverse around now and go up into 1pm central then start the big down into 10am Wed morning
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