applying the Elliott Wave theory - JSE charts at: jsecharts.blogspot.co.za/ - click image to enlarge
Friday, 24 November 2017
$US Index futures (DX) recount
The possibility that C could be A and that the channel is containing the B-wave remains remote but feasible. If the FED fails to maintain adequate market confidence for further rate increases then this would transpire if selling overwhelms the market control abilities.Such a turn of events could see (i) become either a or c. An early indication of (i) becoming c unfolding would be the point (ii) proceeding below the lower boundary line and the divergence being eliminated by an ultra low RSI level. The RSI is presently not conducive to such eventuality.