CBA TA update, page-1113

BINGO!

I decided to do a more serious study on the CBA wave count to establish exactly where we are.
The following is the result which indicates that CBA is currently in a 5th wave.

Wave 1 $109.94 - $122.55 = $12.61
Wave 2 $122.55 - $116.64=$5.91 (46.9% of wave 1)
Wave 1/3 $116.64 - $128.68= $12.04
Wave 2/3 $128.68- $124.35=$4.33 (36% of wave1/3)
Wave 3/3 $124.35-$134.25=$9.90
Wave 4/3 $134.25-$130.18=$4.07 (41.1% of wave 3/3)
Wave 5/3 $130.18-$138.24=$8.06
Overall Wave 3 $116.64-$138.24= $21.60 (1.71 X wave 1 usually look for 1.618 x wave 1 close enough)
Wave 4 $138.24-$124.89=$13.35 (61.8% of wave 3)
We are now in wave 5 & looking for its most likely length I suggest the next critical number would be when wave 5 (which has already exceeded 38.2% of the total move) reaches 50% of the total move with a length of $14.95. This will occur at $139.84. The next possibility is 61.8% of the total move is at $149.08 which appears unlikely)

Consequently, if I had to make a prediction based on the above, I will be putting my money on $139.84 which is likely to occur no later than Tuesday.

Note the impulse waves 1,3 & 5 lengths are $12.61, $21.60 & $14.95 making the 3rd the longest as expected. The perfect wave 4 correction of exactly 61.8% ties in beautifully.

Wave 5 is usually Fibonacci related to the total length of the 5 waves & it appears that 50% is the most likely.

Put $139.84 down as a technical top & should occur with the shares going ex-div.