The markets corrected as expected this week and this fall is showing all signs of a slow correctons, it should end soon.
1. Corrections are typically slow and markets float down. They last for 6 to 8 weeks and do not have any real momentum in them.
2. Correction comes in a 3 legged form . So we had leg A 8968 to 8555, leg B 8555 to 8808 and leg C. Leg C can be upto 8395, 8852 or 8140.
There is a possibility that this correction is over.
Elliot states that final targets can be as high as 10500 so next week may be the last buying opportunity.
Next week, I will try and look at sectors which can be stars going ahead.
We may dip 100 200 points more but I do not see markets falling more. Hillary Clinton victory as seems likely will send the markets soaring. A Trump win however unlikely it may seem will lead to markets crashing.
1. Corrections are typically slow and markets float down. They last for 6 to 8 weeks and do not have any real momentum in them.
2. Correction comes in a 3 legged form . So we had leg A 8968 to 8555, leg B 8555 to 8808 and leg C. Leg C can be upto 8395, 8852 or 8140.
There is a possibility that this correction is over.
Elliot states that final targets can be as high as 10500 so next week may be the last buying opportunity.
Next week, I will try and look at sectors which can be stars going ahead.
We may dip 100 200 points more but I do not see markets falling more. Hillary Clinton victory as seems likely will send the markets soaring. A Trump win however unlikely it may seem will lead to markets crashing.
Sir, is it "Leg C can be up to 8395, 8252 or 8140"
ReplyDeleteI agree Kamlakar, my mistake
ReplyDelete