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techcharter

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techcharter

Re: uncle_chubbie post# 36521

Tuesday, 12/02/2008 9:57:54 PM

Tuesday, December 02, 2008 9:57:54 PM

Post# of 51808
Less confusion about e-wave count.

I was confused after Monday's huge decline. It looked like a zigzag. After reviewing a few more stocks and markets it dawned on me the opening gap placed the count in the middle of wave 3. Through midday the consolidation was wave 4. The closing was wave 5. Today definitely looks like a wave 2 consolidation of a larger degree.

The forecast for tomorrow is down hard, retesting lows.

And the ABX mortgage index fell hard despite the larger market rally, a divergence. Follow the ABX index.
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