My previous post listed Friday as the mid-point of time which is calendar days. If you use trading days then today was day 7 after a 15 day thrust. Volume was good and I want to see new highs and continuing volume to have confidence. It doesn’t show up well here, but the 60 minute chart shows a definite “b” wave within the 7 days and the a-b-c complete.
Chart courtesy of Stockcharts.com
Post Modified: July 3rd, 2008 at 12:20 am
Tags: A-B-C Correction · Price Retrace · Square of Range · Standard and Poor's 500 (S&P500) · Volume2 Comments
2 responses so far ↓
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
Thanks, Allen. Feel free to comment at any time.