After the bell, Update. We got all five of the waves in, finishing right at the close, on VERY light volume with Advancers over Decliners 1.52:1. Things look real ripe for a sell-off at the start of next week.
-After Stockcharts updates their End of the Day charts, I will post some more charts.
The Bollinger Bands are starting to get tight again, another sign that we are consolidating in a 4th wave, and should be getting a sizable move coming soon!!
So far we have had six different trendlines, that have acted as support, until they were decisively broken to the downside, and all have then become resistance.
The interesting part is how uniform they have become in their distance or angle to each other, very symmetrical.
I added a seventh, just for the heck of it, by using the average spacing of the six previous trendlines to come up with the angle and distance for a seventh one.
It will be interesting to see what happens in the future if that seventh line comes into play!!