Replies to post #45579 on Short Term Trading Member Forum

[rayrohn]

lol lets see if we get an over lap in my count of a 5 wave down which is in 3-- down off the may high an over lap would kill it lol an back to the drawing board



IMO we are testing the resistance off the broken down trend line off Feb and April high {which has now broken both up and down} would make the may high a head fake IMO

just my guess lol

[kenl]

Tech one other possibility is that we have only finished wave 2. The ABC out of the march lows to the May top was 1.

The IWM went lower than the low on 4-18 which would not be allowed. The other is the lines are not converging...which they need to be in an ending diagonal. This was pointed out to me by another poster.

So we possibly are just starting a wave 3(ABC) right now.