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Showing posts with label BAC. Show all posts
Showing posts with label BAC. Show all posts

Tuesday, December 11, 2012

Elliott Wave Analysis of BAC (Bank of America)

From the May lows there appears to be a virtual text book 5 wave advance, although in the 5th wave it appears to need a dip for a small 4th wave and then head higher for a final 5th of 5th wave.

So stock traders can look to potentially buying some puts once this looks completed as i suspect it could also align with the US stock markets finding a major top as well.

Watch for a RSI divergence between the 5th and 3rd waves and that's a good sign the market is near a peak, currently we have that divergence which supports the wave count.

Thursday, February 16, 2012

Elliott Wave Analysis of BAC

After a 5 wave advance from the DEC 2011 lows, this appears to be have started something more meaningful and at least a substantial correction to this Text book looking 5 wave Elliott Wave advance