| The market gapped up again today but this time there are enough waves to see a 5 count. Going by this micro count, the top today was the end of this micro W1 or W3 of W1. The DOW closed at another all time high again and that supports more upside soon in addition the Trend Average coming back to positive again. When I called for a top couple of weeks ago I expected the TA to be whipsawed and the correction to be shallow, with the 1545-1548 area to be important levels of support. And that level has been tested several times already and it shows buyers are coming in at these dips so if the bears want to make their case, they better do it asap as this is going higher. There is also the possibility of an rising wedge taking place, which also implies higher prices but for now I am following the same count and target for the past couple of weeks. With end of the quarter being this week, I would expect some window dressing by the funds and a short squeeze should the market be able to gap above resistance. |
发表于 2013-3-26 20:35
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发表于 2013-3-26 23:50
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