The third wave of a flat has 5 subwaves, and while Intermediate B is shaping up as a potential flat, wave b within that B (action from Tuesday-Friday) also looks like a flat. The count pictured above also mirrors the underlying action more faithfully. If it turns out this way, then there shouldn't be another higher high on Monday, and it would be possible to have a repeat of last Monday's drop.
Sunday, April 26, 2009
More Satisfying Count
The third wave of a flat has 5 subwaves, and while Intermediate B is shaping up as a potential flat, wave b within that B (action from Tuesday-Friday) also looks like a flat. The count pictured above also mirrors the underlying action more faithfully. If it turns out this way, then there shouldn't be another higher high on Monday, and it would be possible to have a repeat of last Monday's drop.
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