Courtesy of Read the Ticker.
Well they must be, come on! Really!
At readtheticker.com we have the more important symbols going back 30 to 60 even 100 years. Great for large channel studies, cycles, and very long term trend analysis.
At readtheticker.com we are Elliot Wave lite users. However when a chart is easy to count the 5 wave down, extended (1 to 5 after a major 4) or not (a,b,c only). You now the shorts are going to have to cover soon!
A short covering rally would only attract more shorts, but it would create the bottom accumulation trading range that Wyckoff traders see after a selling climax and automatic reaction.
One to watch!
Click for popup. Clear your browser cache if image is not showing. 
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
..“It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”..
Jesse Livermore
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..
Bernard Baruch
..”Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected”..
George Soros
..”The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.”..
George Soros
