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The Long Investor - KOSPI
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KOSPI is still managing to hold above the 0.5 Fib here at 5415 but we are still seeing lower highs and lower lows so there is still a battle taking place
We typically do see a Wave C finish lower that Wave A in a standard ABC correction and that is clearly what we are in here with KOSPI
But this could come as a flash crash down and the moment a lower low is made, bulls will start to add again
The buy zone is typically set between the 0.5 Fib and 0.618 Fib range
We are following KOSPI closely to have a read on the overall Chip/Memory sector because I believe it has perfectly read the sector and when the pull back is complete here, then the sector can either consolidate or reverse.
KOSPI is still managing to hold above the 0.5 Fib here at 5415 but we are still seeing lower highs and lower lows so there is still a battle taking place
We typically do see a Wave C finish lower that Wave A in a standard ABC correction and that is clearly what we are in here with KOSPI
But this could come as a flash crash down and the moment a lower low is made, bulls will start to add again
The buy zone is typically set between the 0.5 Fib and 0.618 Fib range
We are following KOSPI closely to have a read on the overall Chip/Memory sector because I believe it has perfectly read the sector and when the pull back is complete here, then the sector can either consolidate or reverse.
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