Sufficiently Philanga....thropic wrote:mlennyma wrote:1st wave took us to 39.75,2nd wave pushed us to 42.25,a third wave seems to be developing.where is it likely to take us????
Slight corection. In wave 2, the impulse fades out as the original buyers begin to close trades with profits(which is what we saw when Equity hit 42.25)while others who missed the train stay outside waiting for a new opportunity(37.25 low of Tuesday this week)
Wave 3 is usually the longest and strongest wave. Everyone who wanted to buy-those who missed wave 1(akina Hisah,@Aguy) and those who did not(@Mlenny-will start buying now(check out the current price of 38.25)
All these will create more momentum-large acceleration to the main trend.
@SPT congrats on you new acquired cartoon reading skill.
You know its true, when it hit 37.xx i started thinking again, if this is the new 30-33 support.
What does senior cartoon analyst @HISAH think. Notice they arent cartoons any more, they are that serious.
I looked at the volumes at 42 for equity and HFCK and my instinct told me there were exit volumes. Very high volumes after an almighty rally.
The investor's chief problem - and even his worst enemy - is likely to be himself