Sunday, February 22, 2015

Weekend update - Feb 22, 2015: A surprising success?

The ATH was broken definitively during two strong moves up in the final stages of our expanding triangle wave which is considered (( C )). Therefore, despite the time errors, there can be little question that this pattern should therefore be considered a SUCCESSFUL expanding triangle.

As such, it must be considered W of ( C ). Therefore, a touch of the upper trendline [typical for success triangles] is likely, followed by an X-wave.

There will then be another pattern Y of (C). The result of this second pattern will determine the next major correction.

What a bearish conclusion would look like

Here's what a bullish conclusion would look like