CLF , Cliffs Natural Resources, falling of a cliff

clf oct 3 2014

We show this stock solely for it’s didactic value. This ( iron ore pellet ) company has had a pretty wild ride but in EW terms it is simple a “flat”. The B wave is crystal clear. Wave should become a 5-wave affair. If the count shown is correct we do not know as it is entirely possible that we are just about to finish wave 3, not the entire thing. In the big picture it is hardly relevant.