At the backlink the model suggested that we were at or near a very significant bottom.
I wanted to present another view of the data using Andrew's pitchfork analysis. In that model, the move down from the recent peak at red 4 is a 3 wave a-b-c move which recently found support center channel. From here the chart will likely either break out per the red model or have one wave lower per the blue model. A break above the top rail within the red circle would suggest that the red model is the correct model.
Thursday, November 26, 2015
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