Thursday, November 18, 2010

TI Again

Ti DID get lower lows, though not 3 dollars worth. In fact the 3 wave count looks complete at 1.23 x the 1.
Jan
 So  far this is only 3 waves down, it needs a 5th to qualify as an impulse wave and the beginning of something much deeper. It could be that the 3 waves are an abc down into the 4th of lesser degree, but crude would have to overlap 85.76 to confirm that (though retracing more than .618 or 83.81 would be a good indication of that happening). Still believe the longer term structure and factors dicussed in yest.s post favors the impulse wave down and a much bigger move to come. The 50% retrace on the above really should contain the bounce.
Jan


The 3 did not (at least yet) extend, and at 1.23x 1, was rather minimal. Subsequently the 5th, if it shows up should get an extension. If it were to be .618 of 1 thru 3 it will be 4.94, very similar to the preceding waves, if it extends, say 1.382 x the 3rd =7.19 and so on.

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