- In Trading Thoughts / Economics
- Last Updated: 16 November 2013
- By Gary Caumont
We completed yesterday and confirmed today a 5 wave move up to 2642 on the Dec NQ's- see the following 8day 30min chart.
Wave 1 start at 2492 to the center of wave 4 at 2567 projected a 2642 wave 5 target. The horizontal line at 2650 was yesterday's day 6 high counting from the Nov 16 2492 low. We should close above 2650 today if we are to start a new 5 wave move up from today's low so far of 2637 which confirms the 2642 target. We are 3 days into the long term 55 day cycle which started last Friday Nov 23 and ends this Thurs Nov 29 in which we could see a significant high or low