a) Big break and close below the med-term up trend. Did this on big volume.
b) Not oversold yet so would indicate further falls.
c) Looks to have completed a 5-Wave Impulse (I haven't gone intra-day and done a hard-core analysis of this, but looks fairly close). Since the completion of wave 5, a 3-Wave correction is expected.
d) Fib 38% and MA35 looks to have supported and will likely provide a bounce through Wave-2.
e) Fib 50% should absolutely hold it, and be worst case. Would think new Impulse starts here...
This is just a quick opinion and its 100% guess-work.
I don't hold LNC...
Cheers, Pat
LNC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
