ELSA - AFTER 20 WEEKS CORRECTIONS

*ELSA 14 JULY:

WAVE A POSTED @300.

*ELSA 16 SEPT:
WE HAVE MADE SOME SPECULATION BUY ON 300 (ALTHOUGH THE LOW DID REACH 285) & ALSO AVERAGE UP SOME MORE TODAY.

AFTER 20 WEEKS CORRECTIONS, WE BELIEVE IT'S TIME FOR ELSA TO REBOUND AT LEAST WAVE B UP (OR WE ALSO GIVE ALT WAVE 3-iii).

TARGET FOR WAVE B IS VERY FLEXIBLE. ON THE WAY UP, ELSA MAY STOP ON FEW RESISTANCES:
1ST RESIST: 370
2ND RESIST: 420
3RD RESIST: 500
STOP LOSS BELOW 305.

INDY - WEEKLY CHART JULY & SEP

*INDY WEEKLY CHART POSTED 14 JULY: (click here for details):
PRICE WAS AT 3100 THAT TIME & RALLY +12% TO HIGH 3475 ON AUG.

*INDY WEEKLY CHART UPDATED TODAY 6 SEP:
WE'RE STILL LONG BULL FOR INDY, SLOW BUT SURE INDY IS GOING TO BREAK ALL TIME HIGH 3600.

QUESTION IS INDY GOING TO BREAK IT DIRECTLY OR NOT?

1ST SCENARIO:
CURRENT WAVE LABEL AS REBOUND "WAVE b" (blue colour), TARGET AROUND 3350-3400. AFTER THAT IF PRICE BREAKDOWNS 3150, THEN INDY WILL PULL BACK TO "WAVE c" (blue colour) AROUND 2800-3000. IF THIS HAPPENS, IT WILL BE A VERY NICE SUPPORT TO BUY MORE BEFORE INDY BREAKS 3600.

2ND SCENARIO:
ONLY WHEN PRICE MANAGES TO BREAK 3475 DIRECTLY, LOW 3150 WILL BECOME ALT WAVE B (green colour). IN THIS CASE STRATEGY BHSH (BUY HIGH SELL HIGHER) CAN BE USED BECAUSE PRICE WILL MOST LIKELY BREAK 3600 AS WELL.