LC -
alternation of two corrective waves (3)(3), where the 2nd corrective wave (3) is more complex and time consuming. The first impulse (5) is the sharpest, followed by the next impulse (5)with the same amount of acceleration. next impulse (current wave) may be slower in terms of acceleration. 5th wave extension? maybe...maybe not.
related chart - lc-on-corrective-phase (21june2012)
sold all my bloom last thursday (5jul)in favor of LC. last friday (6jul), LC went ka-bloom.
ReplyDeletehope to see this stock in above 1.60's level.
price action today (9jul)still makes the high last friday a corrective wave. if it goes down tomorrow to 1.37 and below, the price action last friday will be 5th wave failure, ending an impulse sequence.
ReplyDeletefor now, its within a diametric pattern.
below is an excerpt from neowave.com website re: diametric
The post-pattern action following a Diametric is not dependent on the Diametric itself (as with most other wave formations), but relies on the larger pattern the Diametric concludes. For example, did the Diametric end wave-A of a larger Flat or Triangle; was it wave-2, wave-4, wave-x, etc.
In order of priority, these are the things you can expect following wave-G of a Diametric. The wave right after wave-G will be larger and faster than any "same direction" leg that occurred during wave-G. Next, if that post-G-wave is also larger and faster than waves-B, D and F within the Diametric, then the Diametric ends a single leg of a larger formation.
If the move after wave-G is not larger and faster than waves-B, D and F, then an X-wave is probably forming. Otherwise, the Diametric will be one leg of a larger, ongoing pattern OR it will be wave-1 or 3 of a Terminal formation.
price action yesterday (jul10)falls under rule4a condition, expecting an upside.
ReplyDelete