Wednesday, 28 November 2012

1pm update - Target remains sp'1425

Mr Market seems increasingly confident now, and its very viable we'll close above the important recent high of sp'1409. It is very possible we'll hit my primary original target of sp'1425 sometime tomorrow.


sp'60min



sp'daily5


Summary

I've added a possible ABC count to what I still believe is a wave'2 'stupid bounce' on the daily chart. I think there is a fair chance that is what is happening.

Yet as ever, don't get too fixated on precise counts.

What is clear..we're STILL headed broadly up.
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The tranny is still sporting the cleanest waves in my view, and it still kinda looks like a 5 wave move.


Best guess, we max out tomorrow 1-2pm..with sp'1420/25