ajtj99's Market Pulse

[jjstingray]

I am with you Justa. The wave count supports a nice bounce and I like the wedge breakdown area for a test. That test, in my mind, will determine everything. If the market cannot regain the wedge, we fall hard. If it can regain the wedge, it would be a warning sign to everyone that this rally cannot be ignored.

Nice impulsive structure.
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehclyyay[d20][pf][vc60][ilb14!lb5!lh5,5!li10...


Test
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehclyyay[d63][pf][vc60][ilb14!lb5!lh5,5!li10...

That first gap on the way up is almost equivalent to where the wedge breakdown is. Very nice how that works out.

By the way. Thanks for all your analysis Justa. Don't think I have ever thanked you. You do some good work.