The Broadening Top
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Uploader Comments (ThePracticalInvestor)
All Comments (9)
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I think your 3 is 1, your 4 is 2, your 5 is 3, and we are NOW, (or 'one of these days in the future") about to start 4. Ask any Bear who has been short the last week, found in the comments below...ROFLMAOPMP!!! Jus kiddin'. The structure 'can be correct', I think. I think this last week might just be testing the 5 again,and not quite made it up to the Trendline again. If it hits that upper trendline for a second time it might be a consolidation period, then down. As in 'maybe'.Nahhh!
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I suggest waiting for confirmation. Or even scaling in based on technicals.
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Tony ...what about the large head and shoulders bottom we have in place on daily and weekly...it measures 1200 on the S&P !
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Good diagnosis. I have been watching the broadening top since the start of 4 (wave D). The determination of the movement was a dead giveaway. Also look at the nasdaq, we are right at major resistance line drawn to the top of 2000.
Another indicator it's time to go short? Jim Cramer and Kudlow say buy. :)
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dow 9700
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Peter Schiff 4 Senate Moneybomb TODAY
s c h i f f a t h o n . c o m
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For once I agree with you. It is good to have you back!
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Thank you Tony for the heads up on the broadening top and the diagram that helps to illustrate it.
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Dont mess this up for me.. i'm about 75% short as of the close today :)
mistapikkles 2 years ago 2
Hey, Mista!
Just remember that point 6 goes below point 4 before a bounce.
ThePracticalInvestor 2 years ago