Ramki’s article and Elliott Wave analysis of JPMorgan Chase appears on Forbes today June 20, 2012
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Don't bet the farm on Jamie Dimon and JPMorgan yet
By Ramki5 Comments1 Min Read
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A curious question. Are you determining wave X due to the 3 waves up or if X was labeled to be wave 3, wave 4 would have dropped below wave 1?
I am from China. I am your firm supporter since I have followed you for nearly one year.
I have carefully studied all your articles. Since English is not my native language it took me quite a long time to study your analysis.
Thanks for all your work and bold forecast based on your experience from Elliott Wave theory, and your hard work to nearly every response to the comments here.
Hey Ramki. I love the website. Thank you for all your hard work. What is your elliot wave analysis on RIMM? Could you please post one?
Hi Gianluca, Thank you for writing. I will try, but there are several requests that came before yours, my friend.
Hello John, Good question. Initially, wave X looked like wave 3 in terms of position and personality. (Refer FWTFF boook for details) But then it turned around and came back just as quickly, this time overlapping wave 1 of the aborted 3rd wave. At that point in time a Wave Analyst would give up any remaining doubts that this stock was bullish. There is just one very small chance of an error here, that the X wave was made up of 5 waves that I didnt spot, and that constituted the first wave within a third wave, which means we are about to commence the 3rd of the third wave, which should blast its way to the top. In the current environment I think we can safely exclude that scenario for JPMorgan, and so it is advisable to stick to the double zigzag interpretation.