Wednesday, March 18, 2009
WOR - Flat Correction for wave (4)
It appears that WOR is in the final stages of a flat correction (3-3-5) and the last leg - the C wave is finishing 5 waves up.
The final thrust appears to be developing as an ending Diagonal - a 5 wave overlapping move. One last push to a new short term high is needed to complete this move.
Looking at the overall wave structure, wave A is a 3 wave move, wave B is a 3 wave move and wave C is 5 waves - thus making a larger 3-3-5 flat wave structure. A larger correction could still unfold and this whole structure would become 1 wave in a larger multi-wave move (eg a Triangle)