Here's the more bearish count option I mentioned earlier.
Cup and Handle?
[6:35 PM Update]
Another reason for a bounce that may be in store. The Head and Shoulders pattern I presented the other day has nearly been met along with the backtest of the 5/2-6/1 descending trendline.
[6:18 PM Update]
Here are two corrective count options I see playing out.
Cup and Handle?[6:35 PM Update]
Another reason for a bounce that may be in store. The Head and Shoulders pattern I presented the other day has nearly been met along with the backtest of the 5/2-6/1 descending trendline.
[6:18 PM Update]
Here are two corrective count options I see playing out. 1. The corrective wxy completed today right at the 1313 pivot, mid channel and lower trendline that forms that bullish falling wedge I presented earlier.
2. Today's decline into the close was wave a of y. Tomorrow a bounce for b near the upper channel at approximate 1318-1320 and then a drop for c back towards the lower wedge trendline.
For the more bearish options: please refer to my chart from yesterday's EOD update. I was expecting a bounce for wave 4/x towards the 1327 area, which we saw today. This may also represent a wave ii bounce of a bearish nested 1-2 i-ii.
The decline into the close, for the bearish case, represents either wave 5, a wave a of y, or the beginning of wave iii of the nested 1-2 case. I'll try to post that chart later.
EOD Update
It hit that 38% on the nose before reversing. If that is a 4 throw-over than 5 throws-under. However, there may be a few corrective count options there that may have this move complete.
Hmmm.. This still looks bullish. We'll see. I have a few count options in mind (of course).
It hit that 38% on the nose before reversing. If that is a 4 throw-over than 5 throws-under. However, there may be a few corrective count options there that may have this move complete. 
Hmmm.. This still looks bullish. We'll see. I have a few count options in mind (of course). Check back later.
