If you review the model from my prior post on DIS way back in Oct 2014 you will see I was negative on the shares back then. While the peak that was forming then was not "THE" peak it was indeed a peak leading to a significant pullback pointed to in blue below. But that selling petered out after a 3 wave pullback and the next motive wave began. With the benefit of more charting date to guide me it looks like we are now well into 5 of 5. In fact, my current model says that 3 of 5 of 5 is just completed and so we get a small pullback and then a move up into the $125/$126 range which leads us to a big sell off back to at least the $78 - $82 level. It could in fact be much worse but that is the minimum pullback to expect after the last 6 years of DISphoria.
With the chart going nearly straight up at this point I don't give it long to play out. Weeks, not months.
Thursday, July 30, 2015
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