Tuesday, January 15, 2013

Will wave (v) extend?

Current wave count has us in an expanding ascending wedge shape that is often seen at tops.

On this count, wave (iii) did not go to a length of 1.618 x wave (i), so we look for an "extended 5th wave" (or an extended (v)) here.

If wave (v) extends, and equals the total length of the move from the low at 1451, then it targets 1484.  This looks like a really good test of the principle today.

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