Early in the month, SWHC made a strong move to 4.20. A target was set for 4.32, but has so far fallen short. Certainly anyone trading SWHC has been frustrated with the sideways movement after such a nice move higher.
The retracement from the 4.20 high seems to be stuck around the parent wave 1 high, 3.75. This is so far supportive of the longer trends move higher.
Since the wave 3 target of 4.32 was also an internal wave 1 of parent wave 3 target, it is possible to see a correction to the internal wave 1, shown in this chart at around 3.63.
Today SWHC seems to be forming a wave 2 flat correction at the 1 minute time frame. From 3.71 to 3.80, this magnitude wave 1 internal of a wave 1 structure leads to a projected parent wave 5 target of 4.88. Similar to the previous parent wave 5 target of 4.83 mentioned in the previous post.
Internal wave 1 targets (of the 3.71 to 3.80 magnitude) are 3.91 for internal wave 3 of 1 and 4.03 as internal wave 5 of 1 marked in the chart below.
Longer term analysis was also written in early November 2010.
