frugi
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Originally posted by JoulesMM1 in the Trading the SPX thread and moved here by frugi
XJO
At 4206-11 the XJO hits a Fib resistance and has retraced a (three wave) move against a five wave move down from the Intermediate altime high of three degrees from 1972.
Any move above this area tends to call into question the whole count. I think the index is in crucial point. There is considerable loss of momentum on daily basis in the last three sessions which alludes to a top here and then a move back below the recent print low at 3926.
This move back down would a be either a corrective C wave of intermediate wave four or wave three of A of Int 4. Regardless, at this place in the pattern I think the XJO represents a ss opportunity.
I have also spent time studying the social background for this country and presently there is much contrarian reason to view Australia as a country that needs to take a step backwards in the progression of its current bull market.
The largest degree pattern of Intermediate degree is a long way from finishing.
__________________
I asked for Jasmin. Three straw hats tilted East.
XJO
At 4206-11 the XJO hits a Fib resistance and has retraced a (three wave) move against a five wave move down from the Intermediate altime high of three degrees from 1972.
Any move above this area tends to call into question the whole count. I think the index is in crucial point. There is considerable loss of momentum on daily basis in the last three sessions which alludes to a top here and then a move back below the recent print low at 3926.
This move back down would a be either a corrective C wave of intermediate wave four or wave three of A of Int 4. Regardless, at this place in the pattern I think the XJO represents a ss opportunity.
I have also spent time studying the social background for this country and presently there is much contrarian reason to view Australia as a country that needs to take a step backwards in the progression of its current bull market.
The largest degree pattern of Intermediate degree is a long way from finishing.
__________________
I asked for Jasmin. Three straw hats tilted East.
