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Bouwer
Super Contributor
Rams, you think it is a good time to reload for that all time high or is there more potential down side?
5 REPLIES 5
Rams
Super Contributor
Daily ALSI Chart pattern , shows interesting Elliot wave pattern. This wave up could be short covering, which means wave C all the way down to 45690 still to come. This ABC pattern will be negated with a move above the high of 49519 to 50 000 and beyond and confirmed if it trades down below 47233. Based on this pattern, I am selling and will buy if we trade down to 45690 with support.
Penny_Pincher
Super Contributor
Rams, if I look at the Aspen daily graph since June 2014 for eg., I see an Elliot wave being completed. The last wave (C)against the main trend with a new cycle perhaps to begin? Would that be a fair assessment?
Penny_Pincher
Super Contributor
in fact that should be feb 2014 and not june 2014
Rams
Super Contributor
you mean Feb 2015.... Yes we could have reached end of wave "c" last week, with confirmation above 404, and negated below 330.
Rams
Super Contributor
Todays move could be end of wave "B" with a sell off next week to start wave "C" down OR a move up next week to take out 49519 to end the corection. (ALSI daily). I have already exited most of my long positions, and in cash until this pattern is completed.