Although we have the risk of this being a 3 waves rise, by the looks of it I tihnk we'll see a new high as this move has the caracteristics of a corrective wave 4.
Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive divergence with ADL making new high while the indexes are still below their previous high, this gives me confidence in my outlook that the move higher will continue.
Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive divergence with ADL making new high while the indexes are still below their previous high, this gives me confidence in my outlook that the move higher will continue.
Note
Bouncing ?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.