xjo weekend zoomba lounge, page-142

out on a limb here, showing you all my thoughts via writing's on the chart

but ask yourself this:

if you know anything about ew, and if you know anything about fibb's, and if you know anything about market psychology particularly that surrounding a wave 2 low, then what does the chart tell you?

forget what anyone says, including the eminently capable and wonderfully erudite writers in that oh so thorough broadsheet that is the FT

what does the chart say?

i'd venture it says this:

bear market is OVER

the bull snuck in undetected, like a ninja, under the radar form 03/09 to 04/11

when the retracement came in wave 2 it ended at precisely .618 of the rise

the psychology then was uber-bearish, typical of a wave 2 low following a major bear (GFC was, ahem, a major 'event', but it's over)

the beginning of the wave 3 up from the 03/09 low is quite possibly in play

400 point days are indicative of a wave 3 surge

good luck with it, and don't mind my musing inside the chart