*IHSG CHART TODAY 3 AUGUST 2010:
OUR ELLIOT WAVE COUNT FOR IHSG SO FAR SO GOOD. IHSG MANAGES TO REBOUND AT WAVE 5-IV & MAKES NEW HIGH AT WAVE 5-V @3104.THE LOWER CHANNEL ACTS AS A GOOD SUPPORT & THE UPPER CHANNEL ACTS AS A GOOD RESIST.
IF THIS IS THE END OF WAVE 5-V ENDING DIAGONAL, THEN IT'S A MARKET TOP & ANOTHER BIG CRASH SHOULD BE COMING (BE CAREFULL).
*WE LIKE THE BULL TREND OF IHSG, SO WE HAVE MADE AN ALTERNATIVE ELLIOT WAVE FOR IHSG, THIS'S A VERY BULL SCENARIO FOR WAVE 5 WEEKLY EXTENTION:
IT'S STILL THE SAME ENDING DIAGONAL PATTERN (3-3-3-3-3), WITH 3=ABC UP & 3=ABC DOWN, THE DIFFERENT BETWEEN THE OLD ONE IS WE EXTEND THE WEEKLY ABC INSTEAD OF DAILY ABC.-CURRENT CORRECTION SHOULD BE WAVE B (OF WAVE 5-iii) TARGET AROUND 2700-2800.
-AFTER THAT IHSG SHOULD REBOUND TO WAVE C (OF WAVE 5-iii) TARGET @3470.
-THEN ANOTHER ABC DOWN TO WAVE 5-iv @3000 & FINAL WAVE 5-v UP to 3700.
WOW IHSG 3700?? WE KNOW IT'S QUITE HARD TO BELIEVE RIGHT NOW, BUT THAT'S THE ELLIOT WAVE TARGET IF THIS VERY BULL SCENARIO PLAYS OUT.
NOTE: THIS ALTERNATIVE WAVE WILL NOT WORK IF THE NEW UPTRENDLINE IS BROKEN & A NEW BIG CRASH WILL CONFIRM IF LEVEL 2500 IS BROKEN.
*12 WATCHLIST STOCKS: (STAY WITH BLUECHIPS & NEW HIGH STOCKS):
-ASII, UNTR, INDF.
-BANKINGS: BMRI, BBRI, BBCA, BBTN.
-STOCKS IN BIG WAVE 4: ADRO, ITMG, PTBA.
-STOCKS ALMOST BREAK ALL TIME HIGH: WIKA, INDY.
