Monday, October 25, 2010

Stay on target...

Well, the market did make one more new high (as was allowed) and has now exhausted the ED scenario with this extended count.

The bullish scenario is that we have just finished wave minuette wave 1. Expect a minuette wave 2 to test the 1100 area.

The bearish scenario is that we had a failed 5th / C wave, and are about to have the first impulsive move of Primary wave 3.

Let's just say that the price patterns from these two scenarios should be easily recognized. Time to call your hand Ms. Market...
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