|Thanks. This is likely just my imagination ...... but looking at the weekly |
charts and structure I see a similarity with how this move has progressed, either starting at an imaginary 1067 or the actual 1074. This simple-minded look alone ---- assuming the similarity continues --- suggests we will eventually end up at something like 1430 in roughly 24 weeks. Seems like a long time to get there, but that is because we have completed 3/4 of that previous move in little less than half the time. In this sense the move off the 1074 low has been strong. Would this fit in with Wave 3?
If this view is not total nonsense, then it suggests we'll spend many weeks correcting, zig-zagging and what not between the next top (1375?1400?) and the hit at 1430-1440.
There is a resistance line at 1440 that we need to get over (coming of the 1576 top, as I recall).
Even with all that, we could easily still challenge all time highs in 2013. Bind-moggling.
Edit: There is the possibility time is not a good comparison, and we could get to 1430 in 12-16 weeks. I don't know how to decide based on the past.