Short Term Trading Member Forum

[techcharter]

WMT E-Waves Update

http://stockcharts.com/h-sc/ui?s=WMT&p=D&yr=1&mn=0&dy=0&id=p60230389145

The initial price target of $51.50 was penetrated, but the the end of the recent 3 week run fell short of the upper trendline of the Wave B triangle that started in February 2009. The time fell short of projections too. In order for the present count (Wave e of Wave B ) to be confirmed as finished, the price needs to fall below $48.75.

Wave-e may still be in play as another 4 zigzags are traced into the corner of the triangle.

A last alternate count would be Wave B from feb 2009 is a double zigzag, and Wave-b is the triangle in wave-e to go, followed by Wave-c double zigzag into the holiday season.

The price is converging and will make a big move either way. Be patient to eliminate these equally likely wave counts.


P.S Walmart isn't waiting for Black Friday to slash prices. This news says they are starting NOW and will continue to slash prices over the next several weeks.

http://finance.yahoo.com/news/WalMart-to-cut-prices-weekly-apf-1848878455.html?x=0&sec=topStories&pos=3&asset=&ccode=