Ahhhhhh, Tiny Tim [hehehe - alias Gregory Peck] & Amanda [alias Audrey Hepburn] double-dinking around Roma & the Vatican; bellisamo!
Re; "Are we still riding the Elliott Wave?".
Atm 90-132 day EWs are bullish [projecting a Wave5 rise to between $52.37 & $56.34 by Aug20]; in contrast 55-88 day EWs are bearish [projecting a Wave5 fall to between $31 & $34.13 by Sept17] & 26-47 day EWs project a smaller fall to ~$34.
IMO also of great TA interest pattern wise: . H&S pattern appears well-established [projection ~$33.50?] but trend line for resistance highs has been broken & may have ended the H&S downtrend! . A bottoms H&S may now be forming - July18 left shoulder, July 25 head with a very bullish neckline on July 23 / Jul31. The drop we expect on Monday may become the right shoulder! It projects a return to ~$45.60. . Then again, Aug16 2007 & Jan22 2008 were double bottoms => Up to $64.38? . The Tubbs Swing rule based on Oct18, Jan22 & May16 => rise to $66.76! . Slow Stochastic 50:30 says 'Oversold' with a 'buy signal' that will likely disappear if there is a selloff without bounce back on Monday.
Then there's the Greenspan factor, the media frenzy to lower rates, 30day Interbank rates just plunged, Costello could be back & the RBA meets Tuesday & reports say GS will not admit to having smashed the economy & still without killing the inflation dragon! Wow!
Talk about having your cake & eating it too! Ahhhmazinck!
4YIO - NFA
BHP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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