RE: a charted take on Jamie's alternate counts & retrace possibilities-- post # 7753
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Tuesday 8/05 assessmt.
Quote:
Originally Posted by StriderX
Since neither count and/or retraces panned out to fit the projected wave/fib/TL reactive levels (5782 and 5699)
consider this PA scenario inasmuch as 5514 has been penetrated.
Weekly & Daily Tls as well convincingly violated.
Targets on the way to 5174 (perhaps) 50.0 of 4309--6038
--and the Big C corrective bottom
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all targets charted reached
--- overshoot too and sooner than expected
Asian stop loss run + option barrier break-out below 5300 and 5200 AS WELL
close to the 50.0 weekly shelf support low of 4309 to high 6038
5174
5191 --a whoping 313ps since the am high (5504)
look for the retest here and potential 20+ p dip below 5174 to settle and base build
excellent accumulation zone 5170/60 to 5200 if the mass dumping short covers and spec longs begin again.
good fader territory at the least.
Expect a sizable retrace into the Euro session--5310/30 a first target to await.
4hr CHARTS
fr. 8/05
and present (possible view to follow)
or may prove to matrix time out into tonight's wash out)
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