zig zag in the Battle zone I described. between 7.30 resistance and 7.10 support The zone stretches from 6.80 to 7.60 The elliott wave pattern is A down( from 8.30 to 6.62) B up (from 6.62 to 7.66) .... and C down (half way so far...from 7.66 to 6.90 as subwave A or subwave 1 of 5....now the bounce yesterday and today as subwave B or subwave 2 of 5,from 6.90 to 7.32.
The battle zone that decides the next subwave,in this area 7.10-7.45 fighting it out today ,and probably tomorrow should make its move, or else big drama to open next week coiled and waiting... The current balance point here, 7.10 area (6.90-7.20) is waiting to see if there would be a sell off to generate the subwave C or subwave 3 of 5,it would be another 60 or 70 cent plunge like the other day...It might not happen, and if this 7.10 support holds strong....as I described in detail in past posts.... if it holds here we have the perfect set up coiled up in this triangle at 7.10, for the blast next week. What the big money manipulators will do with the "news" ,how it gets spinned and what they do with price action I have no idea. would they manage to sell the news and slam it down with deception and misconstruing it like theyve done before? and then down goes AVXL to the wave C target I'm describing...6.25 and 6 dollars and OMG back to 5.60 again and 5.30 before the game gets reset again....I dont know what the big money has in store how they play the next game.
But on the technical chart here, this 7.10 as a support area is a show of bullish momentum if it holds. even if it drops to 7.00 and 6.90 is still technically ok. The resistance cap today at 7.32 is the bearish technical win so far,crafting the subwave B,in the ABC correction, for the larger ABC downwave in progress. If that larger downwave is intended, the first part of it was the downwave from the 8.30 top to the 6.62 'bottom' as Wave A, the bounce from 6.62 to 7.66 would be called Wave B, and the current downwave would be called Wave C (in progress) and IF the Powers intend to take it to a Wave C completion, that technical target is the 6.45-6.25-6.00 area. But waves can become truncated (ending short of the target) and the 6.60/6.80/6.90 area would represent that truncation ,it could hold here ,setting up for next week.Holding here would be a bullish signal in my view.but even if we did see one more plunge down to 6.40 area ,a big bounce from there could become the platform for next weeks good news. The technical chart like this, is setting up for a big surge. What might worry me more is whether the Big Money and wall street manipulators have some nefarious plan, like last time, to misrepresent the news, sell the news, and slam it down again,...what are the odds of that game being played again? all it takes is an Adam F tweet bash, a seeking alpha deception article, etc... coordinated with big money , blast it up, take the profits and slam it down again. could thay do that? Heres the intraday chart
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