Friday, December 11, 2015

[ABX] update

The HT from the backlink still has not resolved itself but my primary model continues to be that we have one more final wave down before the entire 2011 bear is over.

Note: right now blue 1 is about the same length as blue 3.  Knowing that a motive wave usually has one extended wave and knowing that it is neither 1 nor 3 and knowing that commodity bottoms often extend the 5th wave, do not be surprised to find the final wave down to be more painful than many expect.  Let the wave count be your guide, not arbitrary price levels.

Also note: a break above blue 4' says that the HT model is busted.

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