Sunday, August 20, 2006 10:14:09 AM
Btk. At the latest starting from in the middle of September should run the index thus again downward and head for new yearly Lows.
UPDATE Elliottwaves BTK Biotech index
In the middle of June was discussed here a continuation of the correction, which persists for May. Here for the Seitwaertskorrektur a course goal was called by approximately 700 points. Although there were several dynamic partial waves, it remained in the past two months with a volatilen Seitwaertsphase around the mark at 650 points.
Medium-term the charttechnische situation did not change since June, so that no larger remarks are necessary. In summary one can note that the downward wave possesses a clearly corrective character until May. Although the Low fulfills also the conditions of a wave 4, due to the superordinate constellation a long-term downward correction is favored. Thus the yearly low receives the label as wave (A). The lateral movement for May therefore belongs to the wave (B).
As in the last analyses already discusses, the wave (B) can drag on over several months, whereby the maximum expansion is enough into the late autumn. The Patterns of the past months supports in the rest of the corrective counting method, since on the Long side no impulse structures were trained. The lateral movement up to the Low from 11 August has the form of a complex Flat correction and is therefore problem-free as wave B of (B) countable.
The Wavecount altogether is therefore without surprises: The wave (B) still possesses a Kurspotenzial of approximately 700 points. The current upward wave receives the label as wave C from (B). In the case of a 100%-Ausdehnung only one course goal of 680 points, an extension until 700 points results remains however an option.
This first friendly view may not emislead however about the fact that the BTK is only in a correction wave, which already in the last third is. Even profits until 700 points are outgoing from the current price level rather mickrig. The next large move will take place with high probability on the Short side and for February the running, medium-term correction will complete. At the latest starting from in the middle of September should run the index thus again downward and head for new yearly Lows. In the course of the autumn months therefore losses into the 580-er and/or 570-er range are to be taken into account.
Result
The BTK approaches the end for May of the running Seitwaertskorrektur. Although a short term extension until approximately 700 points is not improbable, the next large move on the Short side will take place. It goes at short notice thus in the coming 1-3 weeks further upward, starting from September dominates however again the bears. On view of 4-5 months losses to 570+ are realistic.
UPDATE Elliottwaves BTK Biotech index
In the middle of June was discussed here a continuation of the correction, which persists for May. Here for the Seitwaertskorrektur a course goal was called by approximately 700 points. Although there were several dynamic partial waves, it remained in the past two months with a volatilen Seitwaertsphase around the mark at 650 points.
Medium-term the charttechnische situation did not change since June, so that no larger remarks are necessary. In summary one can note that the downward wave possesses a clearly corrective character until May. Although the Low fulfills also the conditions of a wave 4, due to the superordinate constellation a long-term downward correction is favored. Thus the yearly low receives the label as wave (A). The lateral movement for May therefore belongs to the wave (B).
As in the last analyses already discusses, the wave (B) can drag on over several months, whereby the maximum expansion is enough into the late autumn. The Patterns of the past months supports in the rest of the corrective counting method, since on the Long side no impulse structures were trained. The lateral movement up to the Low from 11 August has the form of a complex Flat correction and is therefore problem-free as wave B of (B) countable.
The Wavecount altogether is therefore without surprises: The wave (B) still possesses a Kurspotenzial of approximately 700 points. The current upward wave receives the label as wave C from (B). In the case of a 100%-Ausdehnung only one course goal of 680 points, an extension until 700 points results remains however an option.
This first friendly view may not emislead however about the fact that the BTK is only in a correction wave, which already in the last third is. Even profits until 700 points are outgoing from the current price level rather mickrig. The next large move will take place with high probability on the Short side and for February the running, medium-term correction will complete. At the latest starting from in the middle of September should run the index thus again downward and head for new yearly Lows. In the course of the autumn months therefore losses into the 580-er and/or 570-er range are to be taken into account.
Result
The BTK approaches the end for May of the running Seitwaertskorrektur. Although a short term extension until approximately 700 points is not improbable, the next large move on the Short side will take place. It goes at short notice thus in the coming 1-3 weeks further upward, starting from September dominates however again the bears. On view of 4-5 months losses to 570+ are realistic.
Gizmo...
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