The only difference in our wave count is that you believe the 5th wave is continuing & I believe it finished at $141.34 & we are now in the B wave of a running correction.
After the $135.65 low on Aug 21 there is no true Elliott impulse wave count which could indicate that we are in a B wave. The B wave probably started on Aug 28 @ $136.20.
The significant divergence on the RSI indicator to the CBA price chart signifies to me that the move up from $124.89 is certainly a 5th wave. Time will tell if the count has finished or continues.
The point being that there should be a significant correction shortly.
One should not try & pick the ultimate top before selling as you could miss the turn.
CBA Price at posting:
$143.47 Sentiment: Sell Disclosure: Held
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