Short Term Trading Member Forum

[techcharter]

EEM Wave Count

Whatever count I had for EEM has changed, but only minor. Monday when I was calling a top and got a 4%+ drop I think it turned out to be wave 4 of c of (2 or B) instead of a completed large Wave 2 or B. Today the price pushed above last week's high, so we're probably in wave 5 of c of (2 or B). The intraday chart shows one more push up at tomorrow's opening should finish the count before the next bear market leg begins.

The rest of the markets are somewhat distorted to get a good wave count.

Wave 2's and B's are false rallies. This one would certainly qualify as jobless numbers increase, consumer debt defaults increase, car sales are way down, and home prices continue to fall.

Daily

http://stockcharts.com/h-sc/ui?s=EEM&p=D&yr=0&mn=6&dy=0&id=p40517811635


Intraday

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=eem&time=&freq=