Thursday, August 19, 2010

Standing on the Edge! Exact behaviour as ANTICIPATED!

Sensex moved exactly in the ending diagonal pattern we anticipated last week on our blog.
With today's rally the pattern looks complete. Today's high is just shy of few points to make all time high after the crash of 2008.
Just check a perfect division of golden ratio at wave 4 and RSI divergence at ending diagonal pattern. The 3 wave counts of ending diagonal are also very much clear. All this forces me to believe that the top is either in or a final top with a throw over will be made in tomorrow's session before we start intermediate term decline.
A price confirmation will be obtained by a move below 18000 levels!
Today's rally was sufficient enough to convert even more number of bears into bulls as they start thinking of a breakout.
Our negative view will be challenged if the rally moves above 18500 with potential of more energy left but the chances are minimal.
A long awaited trend may finally be starting....

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