The massive head and shoulders pattern continues to develop.
P2 projections are just that, based on Fibonacci time relationships.
This chart gives a much better picture of the Head & Shoulders Pattern.
Oct 2012 P2 is based on the possibility of a double zigzag.
But if the market continues to rise, a single zigzag P2 is possible.
However the double zigzag is not dead just yet. Looks like the first zigzag
could complete @ 1430 by June end. We get a wave X that takes us to
1100-1150 range. Then the second zizgzag rises back upto 1565.
However the double zigzag is not dead just yet. Looks like the first zigzag
could complete @ 1430 by June end. We get a wave X that takes us to
1100-1150 range. Then the second zizgzag rises back upto 1565.
Borrowing this template from acrotec.com.
The circled portion is of the stock market cycle in the chart below is shown above.
What month should the Primary 2 be labeled , sometime in 2011, is what we are trying to figure out.
The circled portion is of the stock market cycle in the chart below is shown above.
What month should the Primary 2 be labeled , sometime in 2011, is what we are trying to figure out.
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