Man, pretty amazing when the squiggles play out as anticipated and especially when it does so in a fashion I was expecting. I kid you not, I did not move the dotted lines but the market traced out my wave (iv) almost to a tee, followed by wave (v) of a of y.
After completing wave a of y, it looks like wave b of y attempted to retrace wave a by 38%. In my AM post, I placed b at 62% but it can end anywhere so I added the b? indicating that b ended near the close?
One thing to note is the falling wedgie look this corrective wave has to it off the 3155 high so maybe some bulls step in early next week.
On the daily interval, looks like price is wedged in between the 20 and 50 day moving averages so we'll see how this resolves. If lower, I'll be keeping an eye on the 3232 level and 200 day moving average.
