FYI, the hourly @NG chart printed a TDSEQ Countdown 13 buy signal today, at the 4.6, 2.618 and 1.272 extensions from prior pivot points. This move down from the 10/13 high (which high completed a 5 wave impluse wave) now counts well as a wave A of a flat as there are 5 waves of a minuette degree in the wave C of this downward A wave completing here. In UNG, the etf that tracks US gas, there is a TDSEQ Buy set up signal on the hourly. The downside support area for UNG is about $8.90 Two independent Hurst analyses pin this time frame for an inflection low and are looking for a late Nov top of what would then be a Wave B, perhaps at the old high (expected target per Elliott) or slightly higher high. I have had a 10.05 area price target on UNG for months, but would exit on a DeMark Sequential Sell.
Edited by Geomean, 24 October 2016 - 10:59 AM.
