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Re: Do You Think Market Is Making A Ceiling?
in my opinion,
after seeing mini sp breaking the 1485, the next days we could go down to touch the 1470 approx or, even the 1458 level more or less. after that move we ll go back up again to try to beat the highs of the year and then, I think, a big correction will take place. probably not to change the market into a bear market but, surely is going to be quite strong.
based on elliott, we have drown waves 1, 2 and 3. the 3rd wave has been an extended one as usuall and made by 5 sub-waves. possibly this 3rd one has gone to its end with the correction that today is taking place in europe (lets see this afternoon in the SP). after finishing this correction (wave 4) market will recover making wave 5 and then this could be a ceiling for the next months
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