Normal
The current XJO wave count suggests we are approaching a completion of this rally(or at least this leg up). It is a whisker away from entering the 10 Week cycle projection zone. It should be noted the 20 week cycle has substantially higher projections that have not been met.All projections generated by cycles must be met or invalidated, so for the 20 week cycle invalidation price action must cross back down below the 2 offsett line. It can be seen that there is quite a big space between price and the trough of the 2 offset lines in the 20 W cycle so it would take quite a big move to invalidate it.My 2c worth is that the market will correct after meeting the 10W cycle projection. If it holds up above the 20W cycle offset troughs we might get another leg up but for now i am eyeing a correction although I have no sell signal yet in the weekly or daily dynamic cycles. I will post these when they generate.
The current XJO wave count suggests we are approaching a completion of this rally(or at least this leg up). It is a whisker away from entering the 10 Week cycle projection zone. It should be noted the 20 week cycle has substantially higher projections that have not been met.
All projections generated by cycles must be met or invalidated, so for the 20 week cycle invalidation price action must cross back down below the 2 offsett line. It can be seen that there is quite a big space between price and the trough of the 2 offset lines in the 20 W cycle so it would take quite a big move to invalidate it.
My 2c worth is that the market will correct after meeting the 10W cycle projection. If it holds up above the 20W cycle offset troughs we might get another leg up but for now i am eyeing a correction although I have no sell signal yet in the weekly or daily dynamic cycles. I will post these when they generate.
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