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Stig
looking at your chart
I would venture to say it will make a down side
correction befor it heads up
Dick
--- Stig O <olausson@xxxxxxxxxx> wrote:
>
> -----
> > Having broken through .382, are you looking
> for a run to .5, or
> >other?
> >
> There are a few ways to look at that I guess.
>
> I wouldn't dare guess on an elliotwave basis, but
> using the Inverted Head & shoulder pattern(s), could
> perhaps give a clue.
>
> Looking at the gif I see 2 patterns where the
> shoulders are marked S1 and S2, each giving a
> different objective.
>
> The S1 measured from neckline to bottom and then
> added to neckline gives a min potential of 188
>
> The S2 gives a min. potential of 204.
>
> HOWEVER there are some hurdles we have to overcome:
> This gif shows that we have a lot of resistance to
> overcome, where we are now, before it's up and away
> (even if the 38,2% retracement of A-H has been
> broken), including the major resistance line AC, and
> several other moves including the X-A move x 0,618,
> DE retracement x 1,618, BC x 1,382 and 50% of CH .
>
> However, this could easily be accomplished if Martin
> Armstrongs article "Is the Global Economy Cracking
> Up" at
> http://www.pei-intl.com/HMEFRAME.HTM had any impact
> or the "panic cycle" were to unfold soon.
>
> The next resistance would probably be the 180 area
> which also includes the B bottom and then the 192
> area and then the 212 area including the C top if we
> are in a new bull market, otherwise the 78,6%
> retracement level at 205.59 could be the STOP sign
> for this upmove.
>
> These are the levels as I see them. Other people
> have probably other suggestions...
>
> See you Tuesday
>
> regards
> stig
>
>
> ATTACHMENT part 2 image/gif name=levels1.gif
===
Big Lucky Dick
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