The ALSI index is seen here as remaining bullish but in need of a further correction to complete the extended Intermediate wave (2). The down turn here is supported by the negative divergence and the target for (2) gains favour once support at (1) is breached. The surge above (1) is abnormal. In such circumstance one should be able to describe the drivers of the market behaviour as abnormal. One would also be expecting that the market is about to receive a significant disappointment with at least one of its main expectations.
On the other hand, the high point of the RSI (start of the negative divergence) could be the mid-point of the 3rd wave causing the extension of the 3rd wave thereafter and making point a = (2). This correction would then be the minute 4th wave of the extension making point b = [iii].
Comments are obviously framed within the concepts of possibility and probability. There will never be such a thing as certainty in this game. If you believe there is then you doomed to fail.
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