Hmmm kinda sorta SOARING no matter what! Could it have ANYTHING to do with a certain Nov. 6 event....naaahhhhh! Yes it may be ridiculous transparent manipulation.. and yet it is still perfectly encompassed by Elliott Wave principals. It is important to note the repeated Fibonacci .618 relationship of the major legs up from the lows. W was an abc up with c=.61 of a within that structure. And within the a of that structure -c- = .61 of the -a- Y = .61 0f W at 1487 The current "c" (from 1266) of Y = .61 of "a" at 1478 more to come.....
Showing posts from October, 2012
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Check out the last natty post from Sept. 3 Natural Gas Seasonal Low? " The low print on Wed the 29th ( Aug) of 2.575 was right on the 50% pullback looked for in the August 9th post, ... So given the big picture....(see Natural Gas Hits Long Term Target ) seasonal and technical support, the avg rally following the seasonal lows of 115%, and the 13 year low in the rig count, upside risk is much greater than downside. In fact, the timing is probably perfect for very long term, opportunistic plays like lease acquisition. " That was published a month ago. Daily click to enlarge Very short term it's looking a little overdone, but as yet there is no evidence of exhaustion or negative divergence. Note that on the weekly chart Natty has retraced .382 of the entire move down from 6.11 to 1.90. And, though not really a head and shoulders fan, there is a measured target up around here. Weekly click to enlarge So some definite resista