Sunday, March 29, 2015

Facebook: Another completed count

A picture this clear leaves nothing much to be said. A Red 5 up is complete, and so a significant pullback is due. What is not known is where in the larger picture these red 5 waves lie.
..... and so on the longer timeframes we have the below questions. Is this a 
1. Red 5 of I
2. Red 5 of III (will be eliminated if price crosses 44)
3. Red 5 of V


The outlook in the medium term however stays the same. The move from 17.55- 86.07 will be retraced and a pullback is due. My guess is that the pullback will take us to either 70 or 51.
Either way now seems like a good place to ditch the stock or short it.

The count will be invalidated if price breaks the highs at 86.07

Monday, March 16, 2015

Dax Update

This is a followup to my last post on the DAX, where i had posted 3 alternate counts. As from my post 2 counts have now been eliminated and the count below stands. The market is now at  12047 slightly above where the 3rd count (now eliminated) target was shown at 11900.
Old Count
New Count with extended 5th wave. Old 5th wave circled in red.
An internal count of the extended 5th wave is below.
A break of 11745 and 11598 should confirm a top in the DAX.