PenAndPencil

PenAndPencil

Long Term: In the long term, we have not yet breached the important 78.6% correction level that would establish that the rally we are having is a trend (and not a correction). I think that should happen soon. I think the market is going to breach this level in style.  Medium Term: In the medium term, the projection continues to hold. We are in the third wave,...

PenAndPencil Updated 

The stop loss was hit last week. I had counted waves wrong. Third third wave had a massive extension and I was not able to figure that out last week. Long Term : In the long term, the market has just about reached an important correction level (78.6% correction) from the massive dip in march. Successfully breaching this will conclude that the recent rally is not...