I have to change the wave count as SP rallied above 2075 & following are the changes I made & now expecting the target area for rally to be 2091.
See chart at :
On the trading day of 18/04/2016 after initial decline till 2073, index bounce & violated mystop loss 2088 & thus it proves that my earlier minor wave counts were totally wrong. Index made new high 2095 almost & so following are the best possible wave counts now & resistances are shown on the chart
PLEASE SEE CHART AT https://amgonifty.wordpress.com/2016/04/...
For detail chart please visit:
On the trading day of 19/04/2016 index bounced up to our first resistance level 2104 & then declined till 2091 & then again bounce till fibbo level 78.6% 2101 & then consolidate for the rest of the day to close at 2100.
So now if this 2104 high holds as a resistance then index retracement on down side probabilities are high.
So let us see what happens in coming few trading sessions.
FOLLOWING ARE THE WAVE COUNTS AT THE END OF THE DAY 01/04/2016 ON 15 MINUTE CHART: DOW & SP ARE MAKING NEW HIGH OF CURRENT RALLY & WILSHIRE WHICH IS 5000 SHARE INDEX NOT MAKING NEW HIGH. I FEEL IT’S A DIVERGENCE & IT IS IN LINE WITH CURRENT ADVANCE DECLINE RATIO WHICH IS OF BROADER MARKET
DOWN LOAD CHART AT