16 October 2020

Uptrend

It appears that the threat of a Head and Shoulders formation has disappeared. The wave structure since the recent bottom on 24 Sep (labeled y in brown) shows an uptrend, with minor subwaves i, ii, iii, and iv (black) formed and potentially subwave v to be formed next week. This is still tentative. The uptrend is not as steep as I would like it to be. As we head towards the US elections, we can expect much uncertainty and volatility in stock markets.

Previous    Archive     Next