Support and Resistance Trading Forum

Re: Markets-- sp *PIC*
By:charleydan
Date: 7/19/2009, 8:03 am
In Response To: Re: Markets-- sp *PIC* (charleydan)

Step back and look at the broader wave count.

If the last wave was done in June with the high as I expected at -957.2. Wave red -c-.

Then the next wave up is -d- wave of this fourth wave that started back with Nov. low and should unfold in an -abcde- pattern.

Wave -d's- most often are simple-abc- patterns. If it follows normal then the wave -a-down from June 7 and -b- up(7-08) and still working that pattern.

Neither is wave -4B- done developing as it is working out an -abcde- pattern.

This is the trading range over the next several months. That is from June high to March low.

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