Tuesday, May 12, 2015

[CLB] update

The pullback which was expected in the backlink seems to have begun.  Here is the unannotated snapshot given back then:




Below is current.  Any time I see 3 wave up to the level of the prior 4th, I wonder greatly if that was not an a-b-c.  I would certainly have un-assed this thing at $130 based on my past post but if you are still holding it, I see this heading down rapidly soon per below and it might well not stop  at $113 as mentioned in the backlink.  It very well could produce a lower.  Be careful with the oil patch folks, this does not look bullish. I would change my tune if it could achieve a higher high from here.

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