As modeled in my previous post, Boeing Aerospace is now in virtual free fall. Right now it could be counted as an a-b-c and in fact I think a lot of traders are buying this dip since it has worked so many times over the past 5+ years. But that ending diagonal strongly suggest that both engines have flamed out. One more wave down will cinch the diagnosis. A trip down to $126 or lower from here will mean that 5 waves down have occurred and that will be a motive, not a corrective move. In other words, confirmation of a new bear market in Boeing.
Saturday, June 28, 2014
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