Based on the two technical indicators shown above, possibility 2 as mentioned in my previous post looks more likely. With that the probable outcomes can be narrowed to two, i.e. the 9 or 13 mini waves can either be (III) which is very bearish or it can be 1 of (III) which is very bullish, two extream and opposite outcomes. It has to be like that, or else the market can not exist, there must be seller and buyer to execute a deal. It is safer to assume that it is (III), take your profit and keep cash until it can be confirmed that it is 1 of (III). When 1 of (III) is confirmed, there is ample time for one to profit in the 3 of (III) and 5 of (V). On the other hand, once it is confirmed that the 9 or 13 mini waves is (III), Dow is going to come down very very fast, one will have no chance to get out with a good price.
Chan, since the American banks are trying to sell their stakes to settle TARP, it is important for them if the global equitity markets are kept in bullish trend for a while in order to get a good selling price for their stakes.What is your take?
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