Last few candlesticks of Dow gave further confirmation that it is at its last journey of the mega wave B bear market rebound. Sub wave iii of wave iii of major wave 3 that moved with hesitation and with no increase in volume has to be the iii of a bear market rebound. It appeared to me that the mega wave B might drag until end of 2010. Need to watchout for failure wave v that may reach a high that is equal to or slightly lower than wave iii. It may also end with a sucker wave v that burst through the upper resistance with a last thrust.
Monday, October 11, 2010
Dow - a weak sub-wave iii
Last few candlesticks of Dow gave further confirmation that it is at its last journey of the mega wave B bear market rebound. Sub wave iii of wave iii of major wave 3 that moved with hesitation and with no increase in volume has to be the iii of a bear market rebound. It appeared to me that the mega wave B might drag until end of 2010. Need to watchout for failure wave v that may reach a high that is equal to or slightly lower than wave iii. It may also end with a sucker wave v that burst through the upper resistance with a last thrust.
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