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Sunday, November 27, 2016 9:26:41 AM
Amateur Investors: Weekend Analysis
* November 26, 2016
For those that follow Wave Analysis it certainly appears to be 5 distinct Waves from the March 2009 low. The 4th Wave bottomed in early February and the rally since then is likely the final 5th Wave.
The 5th Wave should be composed of 5 smaller Waves and it appears the post election rally is potentially the last Wave up.
In this set up Wave v shouldn't be more than 78.6% of Wave iii which was 202 points. So that means Wave v shouldn't rise above the 2243 level by rule. On Friday the S&P 500 closed right at 2213 so potentially the S&P 500 could rise another 30 points.
Meanwhile the S&P 500 has rallied back to the upper Bollinger Band like occurred in July (point A). Back then it lingered near the upper Bollinger Band for 5 weeks before eventually going through a correction (points B to C). Thus it's certainly possible the same thing could happen again.
http://www.amateur-investors.com/AII_Weekend_AnalysisNov_26_16.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
* November 26, 2016
For those that follow Wave Analysis it certainly appears to be 5 distinct Waves from the March 2009 low. The 4th Wave bottomed in early February and the rally since then is likely the final 5th Wave.
The 5th Wave should be composed of 5 smaller Waves and it appears the post election rally is potentially the last Wave up.
In this set up Wave v shouldn't be more than 78.6% of Wave iii which was 202 points. So that means Wave v shouldn't rise above the 2243 level by rule. On Friday the S&P 500 closed right at 2213 so potentially the S&P 500 could rise another 30 points.
Meanwhile the S&P 500 has rallied back to the upper Bollinger Band like occurred in July (point A). Back then it lingered near the upper Bollinger Band for 5 weeks before eventually going through a correction (points B to C). Thus it's certainly possible the same thing could happen again.
http://www.amateur-investors.com/AII_Weekend_AnalysisNov_26_16.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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