Odds are until this chart is below 30 no wave -4- bottom possible.
http://stockcharts.c...r=1518176880456
Stocks above 200 day ma
Started by
LarryT
, Feb 09 2018 06:49 AM
2 replies to this topic
#1
LarryT
-
- Traders-Talk User
- 1,066 posts
Member
#2
Waver
-
- Traders-Talk User
- 802 posts
Member
Posted 09 February 2018 - 08:36 AM
Is there a point where it is no longer a 4th wave and just a start of a bear market?
#3
LarryT
-
- Traders-Talk User
- 1,066 posts
Member
Posted 09 February 2018 - 10:10 AM
Is there a point where it is no longer a 4th wave and just a start of a bear market?
Yes, there is that possibility, takes some time to figure that out. A typical wave four can be a 5 waves down, three waves up retraces 50% then a second leg down about same points as first leg and that is usually 38% of the advance off the February 2016 low or about 2470 or so. The rule is no part of wave -4- can trade into wave -2- so 2400 is that line in the sand. I am still favoring the zig-zag and not a triangle pattern for a -4- wave then higher high with May-June the final top so time will tell. Watching the Fibo 21 day and 34 day for clues off the Jan 16th high.
LT...d:^)
