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July 22, 2010 Print Preview
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Thebelow chart represents a series of degrees of a wave 1 down followed by a deep wave 2 retracements. With this last wave i down from the fire line to yesterdays low, it is followed by another deep wave ii retracement of near 76.8%. If we do not take out yesterdays high from here and all the rest of the counts are correct, this is the beginning of a series of larger wave 3’s down. Momentum will pick up to the downside. I don’t want to be long here at all. Volatility is increasing. Hang on
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