Thursday, February 19, 2015

The next move of M+M hangs by a thread.

The recent wave down from Thursday was either a-b-c or 1-2-3.  I do not know which it will be.  The chart below includes the extended trade.  Look how it stopped short of tipping its hand.  Just 2 cents higher and it would have committed to being 5 small waves up.  Just a few pennies lower that "4 or 1" and it would have confirmed that 5 waves up was not going to happen because 4 would have then been in the range of 1.  So it seems like something or someone is being very careful not to tip the hand while at the same time strictly following the EW rules.  I find this kind of thing amazing and impossible to be coincidental.  I don't know if it is artificial or natural but I am convinced it is not coincidental.

Bottom line is that this will very likely out itself at the open tomorrow  A higher high than red 3 = hold.  A lower low than red C = sell.


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