Hi JNRBI have no issues with your charts at all..This was going...

Hi JNRB

I have no issues with your charts at all..


This was going to be a long post, but just had to watch my Panthers win. So I am only looking short term.

I suspect that the gap 1.38 - 1.51 will be filled with either of two reasons. Does this gap matter I suspect not, I will explain why later.

Firstly on the daily charts The fib's ABC downward short term waves tells me we have an (a) wave downward from a peak 1.77 at (a) to a low at (a1) at 1.415, followed by a (b) wave retrace from 1.415 to 15.45 an almost classical 38% bounce..
So a final downwards (c) wave is expected, using fibs Ext23.8% = 1.33 and Ext38.6%= 1.27. Anywhere in that range would not surprise me saying 1.27 to 1.33. The gap will be filled if I am right.

Secondly that the western markets have been so bullish for so long, its unnatural, I'm not sure when but there seems to be a need to be a correction. Absolute speculation from me (DYOR) If this happens it will force most stocks downwards .

I am cutting this short, to follow up later because its after 11PM.


Just a quick look at the weekly chart. The cup pattern is still forming classically. Always remember that the longer the cup, that after the handle the breakaway to the new highs are greater.


Just the way I deal with the markets so that I am not surprised by what plays out , as always DYOR.

cheers Lies

ps I may come back later with more detailed weekly chart analysis, but its late and I am a little Schindler's List.