I am seeing an extended fifth wave push higher. We have definitely picked a side for now and that side is up. I feel strongly that we are still in the finishing stages of wave 2 up because the wave can retrace 100% of the original down move and then continue its larger path downward.
I hope all took advantage and sold up into the strength of this market. Here is a chart from the finish of last week.
My best analysis says that the absolute top would be the top trend line or a break just above the trend line such as a throw over. I recommend everyone reading up on Elliott Wave International because they are the true expert market forecasters. You can get a great read and the FREE resources by clicking the banner ad up top or watching the video and signing up for the FREE account afterwords.
They are so accurate at market forecasting that I created this site just to spread the message of how powerful Elliott Waves are. I truly believe that this analysis will help so many people that take the look.
I will update as soon as possible, until then, read up on Elliott Wave International.
Elliott Wave Theory is a method of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology. The theory identifies waves identified as impulse waves that set up a pattern and corrective waves that oppose the larger trend.
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