Wave X as a Bowtie Diametric - Massive wave A Rally Imminent?
This is the logical scenario to which evidence I look at is pointing, especially with todays full moon lunacy action. The smart money very likely wants everyone to be fearful and short on these double bottom lows before a tremendous markup. Any upmove into August looks fast and dirty. Short squeeze conditions are present with numerous bullish Bradley cycles ahead into late July and the August 13-15 Spiral date...
If a wave A completes here in a sharp hurrah, then a wave B correction would target the T2 line and take several months likely into early 2012.
If a wave A completes here in a sharp hurrah, then a wave B correction would target the T2 line and take several months likely into early 2012.
posted by chartblog at
12:02 PM
3 Comments:
Neely goes bearish... looking for wave D collapse....
http://www.traders-talk.com/mb2/index.php?act=attach&type=post&id=18505
Review of my analysis:
1. x-wave completing now
2. Fast wave-a rally into August 13-15 spiral date.
3. We are in a bull market with corrections, no bear market until both the 4 and 6 year cycles top out which wont be until 2013-2014 sometime.
Bulls are in charge of this market.
This bowtie pattern I am recognizing is my own analysis, not in affiliation in any way with neowave.com but here is a description of diametrics
http://www.neowave.com/qow/qow-archive-3.asp
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