Tuesday, January 19, 2010

Sloppy Action Continues!


As we pointed out in our previous blogs (since past few weeks) this final primary degree wave [5] rally is developing into a corrective pattern i.e. an ending diagonal which is the only valid wave structure in an impulse wave up having characteristics of corrective wave.
The wave count lately has become extremely difficult as there are more than one equally probable scenarios in which this ending diagonal formation can be counted
So we refrain ourselves from labeling the internal wave counts of wave [5] unless a more clearer wave structure develops but we still expect a rally till 18750 (only with extreme caution) to happen unless prices break below 17000 levels, which will indicate the party is over!

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