General Electric update.

A funny thing just happened.  GE Just spiked to 26.67 (which is to say, 26.666666666666).  Then it printed at 26.66.  Given that I have seen this kind of thing too many times before, I will bet money that GE has peaked.  And if GE has peaked, the broader markets will not be far behind.  As in hours to a day or two, not days or weeks.




In any case, the waves count nicely as 5 up off of the 4th wave triangle throw under that I first suggested might occur back in this post.  Check the date on that link.  That's a fair bit of EW model based forecasting if I say so myself. 

Perhaps it will now move up into red 2 as shown to form a DDT before turning down.  Time will tell.   I will continue to watch this.  It could still turn out that this is 1 of 5 and if so then it will pull back to the prior 4th and then break back out the top rail.  That would be a short covering signal for sure although it is not my top model at present.