15 Jul 2015 ‚óŹ 04:18 AM

The US S&P index has fallen in 3 waves from the high in May. Now I can mark it as i-ii-i-ii if I want to be bearish but a 3 wave decline can also be a-b-c. Because it did not break the wave D low as marked earlier [blue line] it does not confirm that that wedge was complete, thus holding the 40week average it has the potential to go up in wave E to one more new high. Prices of US indices have now retraced 80% so this is a key level, any more higher from here will open this possibility. Till then both are open possibilities.


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