- In Trading Thoughts / Economics
- Last Updated: 16 November 2013
- By Gary Caumont
We hit my 3186 target last Friday (2/8/13) and confirmed it today (2/11/13)- see the following 17day 30min chart.
The chart shows that we put in a high of 3197 last Friday which so far exactly ties the 09/21/12 3197 top giving us a potential double top if we stay below 3197. The subwaves in bold with wave 1 start at 3119 to the center of wave 4 at 3189.5 project a 3260 wave 5 target. This is within a point of the 3259 target that I wrote about on 01/13/13. A move below the presumed wave 4 low at 3182 cancels the 3260 subwave target. The chart also shows a triangle targeting the 3230 area.