Still within the target zone I laid out back on March 17th, the market movement today is I believe indicative of a C wave filling out the completing five wave form (pink). The harmonic model is a precise one and one which thankfully, because of its simplicity, does not keep one guessing when a plain mistake has been made. Such was the case today as I expected the market to already have started its bear market move. The three wave predecessor to today's movement was, however, wave B (light blue) of wave 5. The clear 5 wave harmonic pattern which developed today was undoubtedly motive, and the past few days' market action corrective. I am going back to where all the Fibonacci extensions intersect, and calling a high within 30 points of 14,769. Please see the attached chart.
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This purpose of this blog is to document my own education in the study of Social Mass Systems and Behavioral Finance. Please read the disclaimer below. THE PREDICTIONS AND ASSESSMENTS MADE ON THIS BLOG ARE FOR EDUCATIONAL PURPOSES ONLY. DO NOT TRADE OR RELY ON THESE FORECASTS OR ASSESSMENTS. NOTHING POSTED ON THIS BLOG CONSTITUTES FINANCIAL ADVICE AND ALL INFORMATION IS POSTED SOLELY FOR EDUCATIONAL AND ARCHIVAL PURPOSES.
Tuesday, April 9, 2013
Down Jones Industrial Average - Harmonic Elliot Wave Update
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