So, going back to the wedge chart. . . and using Allan's version as my handy dandy example (since my question is based on that chart).
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If this is an a-e pattern, and each wave has been threes, then since this chart was drawn on the 19th, is it possible that the "d" has finished (though failing to top the top of the wedge)? And if so, could this down be the start of the "e". And if so. . . and all these waves are in 3s, doesn't that imply that in the next day or three, the naz will reverse back up for a spell before doing the "c or 3" of "e" and taking us down to the bottom of the wedge? I know Shack was talking about this this morning. . . .
It almost seems to fit with the confused sentiment out there right now -- a continued lack of resolution, complete with this down more (a headfake) and then an upmove (a headfake that looks like a breakout) then the biggish move down which is, on some level, unexpected cuz it looks like we're breaking out. By that point, I would think frustration levels could get high, and sentiment will swing really fast. Of course, we could simply be going straight down to the bottom right now for all I really know, but I wanted to check with those better versed in the waves to see if this scenario still seems possible. Seems like it to me, but I am just. . .
the freep |
