Crazy volatility today. This is not a day where the magic has worked. Very very frustrated. Keeps doing what I am mapping it will do, but only after it does something completely different in between causing me to undo all my positions only to discover it immediately proceeding to the original plan. Under all this I am expecting it to start the dead cat bounce at any point. Should have just traded out yesterday and taken a break.
My bottoms for today were/are either 884 (hit 880) or 871. Highs are 902 (hit 909) or 921. It should be starting a 3 day rise to 930-945 today or tomorrow. It needs to start it today really to hit the target, so I am expecting it to start a proper impulse wave up any time now. The last from 880 to 900 was promising, but instead of going into a correction pattern it went straight into an impulse wave down (on the 1 minute chart). That has probably resulted in a double bottom, which would ordinarily send us into a strong impulse wave up delivering a W curve at the bottom and a target of 920 for the day, but today? Who knows? If the current lifting wave set - just started as I type gets to 902 then that is a stronger possibility.
You would expect an A-B-C correction pattern now becoming a 5 step impulse (3 highs). Note the cup and handle pattern (of all things!) almost perfectly formed even to the target, and the probable W pattern forming now on the 1 minutes chart, with a probable double bottom. The day has given a number of times when the 5 wave is long so expect that again I'd say.
AKE Price at posting:
$8.89 Sentiment: Buy Disclosure: Held
