Markets are patterned but not always clear therefore subject to personal interpretation. But Boeing appears to provide us with a nice impulse wave from its 2009 low. If correct, that implies two things : First a correction has started or will pretty soon that should push BA back towards 135-120. I like 120 as it is the 38.2 retracement of the previous wave and the bottom of the previous 4th wave. Two commons occurrences.
Secondly, if we label it right, BA would need one final push to complete the structure from 2009. Thereafter, some kind of major decline will materialize.
Timewise, BA, as the stock market in general, can be in for a choppy ride and last many months before the bulls pick up the ball again
Of note, for the very short term, BA could extend its recent gain but it should be limited.
Keep an eye on Boeing but let's be bear and patient.
Secondly, if we label it right, BA would need one final push to complete the structure from 2009. Thereafter, some kind of major decline will materialize.
Timewise, BA, as the stock market in general, can be in for a choppy ride and last many months before the bulls pick up the ball again
Of note, for the very short term, BA could extend its recent gain but it should be limited.
Keep an eye on Boeing but let's be bear and patient.
