I am more or less convinced on this double zigzag because of the month we are, the markets should hold or maybe rally in December. I posted briefly on a market rebound on Nov. 28.
Now, I was expecting the market to drop almost to 11000 because of channel measuring techniques since the 500+ channel broke down near 11600. The market hold above an important internal trend line and that did not work.
Guideline for wave 2 retracing up to 81% put the final c around 12,400, first the market must break above an important down trend line that was topped yesterday.
A triangle is unlikely in wave 2 unless is a complex formation, if that is the case we will have a long time without trend.
So what will be the level of blue b before the final push up to 12400?
Also, can this be a possibility ??
buen dia a todos,
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- Erick Stern
- I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write firstname.lastname@example.org Thanks, Erick