after whats been happening, I thought it might be useful to look...

after whats been happening, I thought it might be useful to look at a longer term weekly chart for AIM. It does provide evidence (at least to me) that Wave 3 is in place at 38c and we are infact tracing out a wave 4 correction here which is in line with the ongoiing EW analysis on the dailies .. but where will the selling stop ? 27c trendline support has broken which is damaging but I'm very interested to see if it can close back above it today or within next few trading days, which may just confirm that this is just a shakeout of the last of the weaker holders - I'm hoping so . From an EW perspective Wave 4's typically retrace 38.2% (27.5c ) out to 50% (24.5c) which is near the next support line at 25c. The pattern on the weekly chart is flag in type and if all runs true and it explodes up out of this pattern, the technical breakout projection from this pattern is over 50c - same as from previous EW projections given based on the dailies so very nice confluence here. There is no doubt we are in a zone of support right now where shakeouts just below the line will often occur .... it pi&ses off the traders (like me) but generally keeps in the investors. So For long term holders , the weekly chart does still look in very good shape. I don't like any Wave 4's ever retracing more than 50% so the next level of serious doubt will come into play if 24.5c breaks down. I'll reconsider the chart if we get close to this , otherwise stay positive on the breakout of this weekly flag pattern as it holds alot of upside potential and will also categorically conclude the Wave 4 corrective phase (at last) - this is where I'm at with the chart so still very bullish believe it or not with only minor personal psychological damage done to me on todays trendline break . hope this makes some sort of sense .cheers ECN.