Shorter cycle (5 week cycle) should top and turn down. The 2.5 week cycle bottoms as 5 week chart tops. With these 2 cycles off setting I expect Thur/Fri this week to be sideways. The 40 week cycle has also topped and turned down.
I expect this 40 week cycle to be somewhat dominant. In this case the up side will be limited next week (upside bias).
GL traders. I will post again in about 10 days, sooner if I get a connection and the time...
Update 7/21/2016:
I suggested sideways action with the longer 40 week cycle limiting upside potential.
Wouldn't it make more sense to see a wedge for this 5th wave up, consisting of an abcde pattern instead of a clean 1-5 up?
ReplyDeleteBased on the weekly chart, c up is close to finishing 2170-2200 and then we should expect wave d down, 2100/2080/2050.
Also, the current pattern looks a lot like the pattern we saw in oct 14-may 15.
I think bears will take control next week (or two).
http://tripstrading.com/2016/0...
Next week for the top rising year? 2300_2400sp?
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