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Thread: Needs a confirmation please

  1. 12-17-2006, 05:38 AM #1
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    Jwallace
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    Default Needs a confirmation please

    Hello everybody...


    I read an article in news paper that Kuwait Stock Market is about to make a big impact after a sharp correction and i would like to share with you guys and get your advice from that attached Weighted Index chart with elliot wave marks if the market made a bottom and if the correction has ended or its about to end soon ?? your help is so appreciated
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  2. 12-17-2006, 01:25 PM #2
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    Default Re: Needs a confirmation please

    Welcome Jwallace! I'm not an elliot wave expert but the chart looks promising. A nice double bottom, a higher high. I would say buying with a stop below the prior low would be wise, but that is actually a long way down. A move above the "b" would confirm a long term buy signal.

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