Friday, February 25, 2011

XAO Short Term Update

Alternate count 1 with a Flat for Wave (B) is still in a good position since wave 'B' has almost met the start of wave 'A' before retracing downwards. Wave 'C' needs to fall to 4620 which is 61.8% of 'A' or retrace 'B' completely to 4350. Once complete, the next leg up need to occur and move to a new intermediate term high.

This count is still based on Alternate count 1 here, but with  much longer drawn out flat.

Wave 'C' needs to unfold downwards in a 5 wave move (or possibly as an ending diagonal). Time to complete wave 'C' could be very quick or drawn out if it's an ending diagonal pattern.

Alternative count 2. This count is still valid (as shown here) but I'm not convinced that this is a wave '2' since the proportions of time are exaggerated for wave '2' development v's wave '1'. If the XAO drives down thru the 4350 level with ease, then it may be time to re-evaluate this particular count.

Fibonacci time relationships are apparent between wave 'A' and wave 'B', with wave 'A' taking just a little over 76.8% of wave 'B'. Wave 'C' will probably complete more quickly than 'A'

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