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Before the Bell:
Nov 5, 1998
It still looks like a b-wave to me. At 8854 the b-wave is currently
exactly 161.8% of the a-wave. This guarantees the failure of the
c-wave downwards. Somehow, the movement from 8328 to 8854 looks
like a corrective wave to me and not the impulsive extended 5th wave.
If I am indeed right and the market does fall, long positions should
be created around the 8500 level. Dump everything if the market goes
below 8328.
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