SUMMARY
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PPL Corporation (PPL) has been in a corrective mode since 2007 and is about 2/3 complete! The rise it had been having since then is only a countertrend bounce. The purple channel is also spelling out a very scary looking bear flag. What's even more scary is that price has pierced through the bottom purple line decisively! Watch out!
The red ABC sequence still has the C down remaining and it'll be in an impulse sequence. Blue waves 1 and 2 are complete and so the 3 is still in progress and could decline even more as wave 3s move most violently. The red C can be followed to zone in on the terminal end of this multi-year corection. Why? Terminal ends of corrections usually represent the best buying opportunities.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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