Sunday, June 15, 2008

Primary vs. Tertiary

As both Nasdaq and Dow Jones made a doubletop a couple of weeks ago stockowners could say goodbye to the secondary uptrend and make themselves ready for what Elliot Wave fantasts calls "wave C", the last and longest downtrend in a correction. The bear market has according to this been over now for a couple of weeks and the sentiment has been very bad since then, but momentum is about to turn and the tertiary trend will most likely be upwards after the fantastic finish from U.S. indicies this friday. So, be ready for a short relief race this week with Asia in the starting-block, but don't be naiv... as long as the primary trend is downwards, don't trade for a upturn and even though longterm investments are temping now, be patient, there will be better chances to fill your portfolio.

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