At the beginning of the week the markets recaptured a little bit, but since Thursday they are on their way to test the 05/06/2010 lows. Further I assume that those lows are extremely significant and they should resist. Correspondingly I am quite adjusted bullish, but I know that a test of those lows is necessary to confirm the long term upward trend(potential C wave of a zig-zag, and of course new highs).
Today a perfect low would be at 1090, when a daily price and time magnet will coincide, completing a zig-zag as 2nd wave.
3 comments:
What makes you bullish?
I would like to know that.
Are you looking at other charts that give you the impression that a bottom is near?
“What makes you bullish?I would like to know that”
First I am bullish only short term, long term definitely I am bearish until proven the opposite and breaking important lows and highs.
My call is for just one more high before the huge drop, that’s all.
My long term wave count makes me mid-term bullish, few sentiment and index indicators make me bullish as well.
“Are you looking at other charts that give you the impression that a bottom is near?”
Yes, sometimes I visit other EW follower’s sites and watch their work. Last few days all EW blogs dive strong bearish forecasts. My forecasts are based on my own opinion only –Anonymous!!!
Thanks Millen,
Hans
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