Monday, May 4, 2015

Stocks Wedge Higher

Looks like we are waiting for another iteration of the abc wedging structure to complete itself. If the   collapse to follow wasn't going to be so catastrophic you could fall asleep here. Kinda of like watching the mouse run over the sleeping lions nose.
Get outside and go for a run ...

click to enlarge 
The above is my current count on the wedge with a target zone for the final abc up to complete the diagonal fifth wave.
The .618 of wave 1 added to wave 2 targets 2144 and .382 of 1 thru 3 added to last weeks low produces 2147. Of course, even 2125 would do it, or it could even fail immediately, though that is less likely. 

Breathe.

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