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Had to give you this margin debt info for July---up 6 billion from the previous month to 382b...just short of aprils high of 384b.Quick analysis:no market top yet based on this.Cheers.
Jeff, I've stopped counting waves a long while ago. Both boundaries of the triangle was hit 3 times on my EEM chart. The 4th hits break them most of the time. If the triangle breaks downwards I would go short and vice versa for long. Frankly, to my eye, it looks very bullish because sideway triangles are continuation structures (4th waves) so I expect it to break it up.
Had to give you this margin debt info for July---up 6 billion from the previous month to 382b...just short of aprils high of 384b.Quick analysis:no market top yet based on this.Cheers.
ReplyDeleteBouraq, what is your EW-count for EEM? Do you think it's a buy or a sell right now?
ReplyDeleteJeff,
ReplyDeleteI've stopped counting waves a long while ago. Both boundaries of the triangle was hit 3 times on my EEM chart. The 4th hits break them most of the time. If the triangle breaks downwards I would go short and vice versa for long. Frankly, to my eye, it looks very bullish because sideway triangles are continuation structures (4th waves) so I expect it to break it up.
Thanks for your opinion on EEM. Would love to continue to see updates on it in the near future. I plan to use EDC or EDZ to go long or short on it.
ReplyDelete