Thursday, 6 June 2013

SPI200, almost there

Hi Traders,

As I said on May 28th, the SPI200, now at 4805, is believed to perform a large Zig-Zag till mid September.

Given the main uptrend, this is a major correction named "wave 4", probably an "a-b-c-d-e" (or just an a-b-c).

Right now, we might be close to the bottom of "wave a".

NOTE: wait before entering the new uptrend named  "wave b" as there's still a chance of  a "sort of double bottom" for "wave a", meaning another little leg up to level 4825 - or even 4856 - followed by a small leg down to the area 4774-4751.

This is due to the number of waves in the 1-hour chart that still don't add up. In fact, there are only 3 waves down, out of the expected set of 5.


likely: area 5009-5004
possible: area 5033-5036
maybe: area 5085-5104

wait till the number of waves downward - in the 1-hour chart - is completed (5 waves).

wait for the signal from the wave oscillator in the 4-hour chart.

SPI200 weekly chart: click to enlarge

SPI200 daily chart: click to enlarge

SPI200 4-hour chart: click to enlarge

SPI200 1-hour chart: click to enlarge

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