I've been looking at the chart to try to find an EW model of what could go wrong here. The worst I could come up with was that the recent bottom was wave 3 down, not wave 5. Still, if this is the case, then it was a very long wave which demands a significant upward retracement. The December move up didn't even hit the 38.2% fib. If that is all it gets it is still nearly a double from today's close. More likely, it fills one of the gaps shown. If this model is correct then it must move up on Monday.
Zooming in on just the past few days. The prior 4th was at $16 so yes it could retrace back there and the count really isn't all the clear so I sold half my position at the close and if it heads down to $16 on Monday then I'll load up again.
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