Still looks like it’s in an uptrend to me. Would be surprised to see much correction before it advances again.
Will_Wong
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@goodguy, Maybe but ascending wedges are more prone to breaking down statistically.
goodguy
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@Will Wong, I just noticed my chart is AAPL and your is AMZM. Maybe we both are right! Next time I’ll try to keep it straight. Have a great New Year.
4thewin
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and actually you can extend the dotted blue lines even further to connect to your purple ((i)) and ((ii))
4thewin
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nice work. Although, im not sure about your pink wave 4. It does not seem consistent in size of your other waves. I'm wondering if wave 4 hasn't happened yet and we are in an extended wave 3 about to start the wave 4 and the leading diagonal is the 5th part of the extended larger wave 3. I haven't done any analysis so I cannot confirm that theory.
Will_Wong
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@4thewin, Good point. I thought the pink wave 4 is really kinda short compared to wave 2. Thanks for your comments.