ajtj99's Market Pulse

[Culmus]

You mean we are in wave 5 up (of wave (C ) of wave /E/ ).

weekly SOX chart:

http://www.wallstreet-online.de/ws/news/news/viewpic.php?picid=031/45/95

Daily SOX chart:

http://www.wallstreet-online.de/ws/news/news/viewpic.php?picid=031/45/96

He has 480 - 500 as a very strong resistance. However, it will require the support at 447 to be broken for the huge downsside potential to be used up.

Above 500 the bearish scenario is null and void.

Two possibilities:

1) Immediate move to 492 and completion of wave 5 of (C ). Latest early October turn down and break of 447.

2) Timewise extension of wave 4 ahead of the move to 492. The range of 456 - 487 will remain, but over 2-3 weeks a brief move to under 460 (wave c of 4). Then 492, then down.

It is just a question of WHEN, not IF, before the SOX dives in his view.