9 October 2018

More Correction

What was supposed to be Subwave iv (brown) has dropped below the top of Subwave i (brown). The previous wave count is invalidated. Subwave iv (brown) is now adjusted to have completed sooner and higher, and Subwave v (brown) followed shortly to complete Subwave 1 (green). We are now in Subwave 2 (green), which I have labelled, but it may not get support from the trend line.

The following hourly chart shows the STI crossing below the top blue line which marks the top of Subwave i (brown). The lower blue line marks the start of the Subwave i (brown), which is the start of Subwave 1 (green). If the STI drops below the start of Subwave 1 (green), the current wave count will also be invalidated.

We can see from the daily chart that Subwave 2 (green) has gone straight down. A corrective wave usually has three subwaves. Thus it appears that Subwave 2 (green) is incomplete. From the hourly chart we see that Subwave 2 (green) is a 5-3-5 zigzag which is technically a complete corrective wave. However it is possible that it could continue on to form a combination wave, which would be a nightmare.

Let us hope we can wake up soon enough!

Previous     Archive     Next