Last week I wrote: "We got as expected the small further up move the past week. The small gap at the start of the a correction wave is not closed yet. Maybe this will still happen the coming week. If this gap is not closed it is not a good sign and it may take a long time before being closed in the future. The first down target is the 200-day average and the low side of the Bollinger band. The target for the C-wave correction is around 2450, completing a C-wave with the same size as the A-wave, also the 161.8% Fibonacci target over the current top and the start of the b-wave. Read my updated comments here for the weekly chart and monthly chart for more information regarding the longer term view."
We got again a small further up move the past week. The small gap at the start of the week is closed. However, the gap of the week before is not closed yet. Maybe this will still happen the coming week. If the gaps at the start of wave A and the start of wave a, are not closed it is not a good sign and it may take a long time before being closed in the future. The first down target is the 200-day average and the low side of the Bollinger band. The target for the C-wave correction is around 2450, completing a C-wave with the same size as the A-wave, also the 161.8% Fibonacci target over the current top and the start of the b-wave. Read my updated comments here for the weekly chart and monthly chart for more information regarding the longer term view.
Sylvain Vervoort http://stocata.org/