We continue our Bear Market Play of the quarter, and those who followed on buying at 10700 level, is now at 10% gain.
We didnt expect this rally to be as fast as this, we are targeting 11750-12000 as the exit points, but looks like we already hit 11750 in just 3 weeks time, After this quick rally, is there a quick rally quick selloff and continuation of Bear Market? I believe so.
Wednesday is the probable deal date of Europe, and Today, on a weekend, Europe is having a meeting for their debts, people are optimistic on their discussions, but when nothing in particular is exciting to investors, selloffs may continue.
I put to end the Bear Market play of the Quarter, Sell around 11750-12000, and has a chance to hit as high as 12250 based on EW Calculations. This rally is so fast, that the possible end rate of Primary Wave B may be as early as next week, and the latest of around 3rd week Nov. 10% is already good enough for a 3 week gain. Play safe guys!
EW targets based on Primary Wave A :
PRimary Wave B: 0.50 of A = 11750
.618 of A = 11950
.7 of A = 12100
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