Wednesday, February 12, 2014
Wave 4 retraced exactly 23.6% of wave 3. I thought it would drop a little more to the 81 area, but alas it did not. The targets for wave 5 are within the two white horizontal lines. Now that wave 4 is presumably in, I can better get a feel for where wave 5 will end up.
The FRZ's for wave 5 now reside at right around 90.00 where wave 5 = .618*1 and 5 = .236(1+3) and the 93.60 area where wave 5 = 1 and wave = .382(1+3). I would give better odds to the second FRZ holding the move.
The SP-500 might make new highs with the Q's, but I don't believe the DJIA will.
Posted by James Genosky at 6:45 AM