Stock chart groundhog day is up on deck with General Electric

Here is the back link to the GE thread.

After putting in a H. triangle with a 5th wave throwunder, GE has powered up into a 5th wave.  Or it could just be 1 of 5. Following this, it pulled back to the 38.2% fib as if it wants to go higher.  However the next move up was exactly to the 50% fib of red 1.  Also, the move so far looks like an a-b-c which has filled the open gap.


































This is going to have to commit pretty darned soon one way or the other.  Clearly, a break down back into the H.T. and then through the lower rail will be good confirmation that the 5th wave up is complete.  If it could gap below the upper and lower rails in one fell swoop it would be even more impressive.

Meanwhile, GE continues to sell everything that isn't nailed down.  In addition, the federal reserve is beginning to to treat GE as the shadow bank that it in fact is.  The result is new requirements which will basically force GE to de-leverage even more.  All of this will cut into its revenues.  Who wants to own a company when the government is basically saddling it with more regulations, all of which carry stiff fines if not complied to properly.