CTSH, MEOH, USAT updates 09/06

CTSH: Counts best as having completed primary-III (can also be primary-C if it was only a three-wave move up), and should now be in IV down to ideally 55ish (38.2% retrace of III). A break below the intermediate-iv low will confirm this thesis. Note how well the major Fib-extensions (yellow) worked for major-3, 4 and 5 (123.65, 61.8%, 176.4%) support the thesis that III has topped. Long positions should have been scaled out already IMHO and the remaining position can be set at a 69.69 stop.

CTSH monthly

MEOH: Although there’s no confirmation yet, it may have topped for Primary A. Price must drop below $66 to confirm. Primary B target zone given, and as of now this very large and uncertain as there’s very little info -in fact none- to suggest anything else so I can only go buy the typical B-wave retrace levels.


USAT: Counts very nice and clean for five primary waves up off it’s low. A break below (yellow) major-4 of Primary-V (~$13.50) will confirm this thesis. We should then expect a drop back to the $3.6-4.6 area for Cycle-2… Only a move to new ATHs will tell us major-5 is subdividing. Not sure one would like to bet on it.

USAT monthly 1