| $Compq- 2232 short term target |
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| Written by Gary Caumont | |||
| Sunday, 14 February 2010 12:21 | |||
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My 2178 wave 3 target was hit and confirmed last Thursday 2/11 (high was 2180). On Friday, 2/12, we put in what looks to be a wave 4 low at 2152. See the following 8 day 30 min chart. Wave 1 start at 2100 to the center of wave 4 at 2166 projects a 2232 wave 5 target. Also, on Friday we started an ultra short term 5 wave move observable on a 2 min chart that has a 2198 wave 5 target which was not yet hit (high was 2185, close was 2184). If we hit 2198 that will wipe out the A down from 2195 moving A down start back to the start of the last ABC at 2228 (see the chart for the article I wrote on Feb 10). If instead we go below 2168 (ultra short wave 4 low), this would cancel the 2198 target. This is all to say that if we hit 2198 then the bulls will have the upper hand and we should go on to hit 2232. If we fail to hit 2198 and especially if we fail to wipe out the A down from 2195 then the bears have control and will be looking to start a C down from the highest point reached (a B top) which as of last Friday is 2185.
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| Last Updated on Sunday, 14 February 2010 12:58 |