The model from
this post seems to be playing out so far. One of 3 things will likely happen (in order of probability):
- Shares move up into the afternoon and then kiss the top rail and then pull back a bit so that they are poised tomorrow either to break out or to go to the bottom rail again.
- Shares break out the top rail and begin to skyrocket into the close. In this case, the 4th wave triangle model is bust and the near term bottom is in, next price target = $12.
- The shares will turn down below the lower rail right now and pull back a little in order to ruin the C wave into red E. This could be bullish because it means that the triangle is probably bust but we would have to see the ensuing wave count to formulate a new model for it.
I plan to sell as soon as it kisses that top rail and then only if it can break out will I will buy back.
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