RDS.B encore

rbs.b march 16 2015

Just a quick encore on Royal Dutch, this time using the b shares (the difference between b and a has to do with withhold taxes on dividends). This is the longest chart I could find. In most if not all 5-wave sequences there is normally one wave that is extended. That is longer than it “should” be. Here we assume it is wave 3 of 3, but we are not sure where it ends, that is it could be bigger than you think hence the alternate count. What it does is push the top from 2007 to 2014. That does not change the target as it matters little as in both cases the target is the 4th of previous degree or, alternatively the 4th of 3 (see the two horizontal lines). What does matter, however is how you get there. If a C wave in the very large flat it has to be 5-waves straight down, but if the top was in 2014 a large A-B-C may only just be starting and you could get the pause or intermission somewhere around here (instead of a wave 2 of C).