Well here is the end result for today. It does appear to be an Ending Diagonal after all. See my previous post before the close today.
The fifth wave of the ED even had the signature throw over, which is typical with wave 5 ending diagonals.
Does this mean that we have topped? It is highly likely, however, does it mean P3 has begun or did we just complete the first wave of five for Minor C and this would only be a minute wave 2 pullback.
Regardless, a pullback should ensue and one that takes out the 992 low would rule out any chance of a new 5 wave impulse for Minor C and indicate that we are more likely in the beginning stages of P3.
You do have to admit that price has moved into the area where all the trend lines have converged. Tomorrow will be an interesting day.
GL!
DISAGREE AS ALWAYS.
ReplyDeleteDONT DISAPPEAR BECAUSE IT DIDNT TRIGGER.
I like the way you count that ED, it does not break any rules :)
ReplyDeleteThanks EWTAC. Too bad it didn't play out! :)
ReplyDelete