PXP_Jun 26, 2012

1. PXP is still a Double Three, but I'm having doubts about the pattern of the second three --- it may not be a triangle as earlier expected (see previous post, PXP_Jun 22, 2012)
2. Based on the current structure labels (in blue), it is a triangle since we have the series 3-3-3-3-3 from 5/29 to 6/22/2012
3. However, upon closer inspection, this suspected triangle is not channeling properly, so explore other possibilities
4. My reading is, this is a flat (3-3-5), with a double failure:

• 6/05/2012 = wave-a = :3
• 6/20/2012 = wave-b = :3 (3-3-5 compacted)
• 6/22/2012 = wave-c = :5?

5. As of today's reading, the structure label of wave-c is actually ":F3/:b:c3/x:c3" and definitely not a ":5"
6. And this is the exciting part: wave-c's structure label will become ":L3/:L5" when PXP hits P44.95! Now we get our ":5" to complete our flat 3-3-5!
7. The wave ending 6/20 is a bullish R-4. Use your crystal ball (see other page in this blog: "My Crystal Ball"). This means the current uptrend will take us anywhere from P42.10 (100% of previous wave) to beyond P49.55 (261.8%)
8. I am therefore expecting that PXP will reach at least 44.95 later today Jun 27
9. Our Double Three is complete, and either another X-wave (for a Triple Three) or an impulsion follows. If it's an impulsion, a 161.8% projection of the previous impulse is expected (blue)
10. If PXP fails to reach P44.95, we revert to the triangle
11. Either way, flat or triangle, PXP is still a bullish Double Three