Last time we updated BA we were seeing the stock as topping but instead it took off on us opening the door for two potential scenarios. Both bullish. Either we are correcting the recent parabolic advance before printing the final wave up or there's two down up sequences left before BA comes back to earth.
The right look and common sense would suggest to label it the most bullish way ( shown at the bottom ) as usually for stocks the strongest wave is the third of the third. In this case what would be wave 3 of (III) the advance from a year ago. Beside wave 3 is now equal to 1.618 times wave 1 a common relationships between active waves in stocks.
The was is labeled now is more seen in commodities. But let's keep it that way for now. Better safe than sorry.
BA is taking a pause. So are we.
The right look and common sense would suggest to label it the most bullish way ( shown at the bottom ) as usually for stocks the strongest wave is the third of the third. In this case what would be wave 3 of (III) the advance from a year ago. Beside wave 3 is now equal to 1.618 times wave 1 a common relationships between active waves in stocks.
The was is labeled now is more seen in commodities. But let's keep it that way for now. Better safe than sorry.
BA is taking a pause. So are we.