On Friday (Feb. 17) Dow closed at
12,950, that is 140 points (1%) above level
12,810 that I have denoted as end of major wave
B. See wave count below with a small 'Double Top' reversal pattern.
If Dow continues to move higher from here, the only possibility at this stage is as shown below, major wave
B is not yet completed. Major wave
B is heading toward 2007 October peak of 14,164 for a possible big '
Double Top' formation.
Under 'Option 2' scenario, major wave
B may last until December 2012, another 10 months to go before the major wave
C starts.
.
No comments:
Post a Comment