MDA - Market Direction Analysis

[John R. Haley]

Re: Multiple Forks

Augie, it is always hard to decide how long a fork is still in play. Obviously it can be discarded when it has been violated, but you seem to have them all in play.

I think thekey is what time period you are focusing on. The green one has pointed the way to the last wave. The successor to the green (which you have not drawn yet) tells us the direction of the most recent move up. My calibrated eyeball suggest a top coming about 1010.

On a longer term basis the big blue tells us what to expect of this impulse wave down. Lots of room to go down yet.