What a bunch of stubborn bulls. Eh it's all good.
I have to thank Joske and Master33 from the CiL for this count. Granted I provided a very similar alternate from last night's post.
It was the very top label, which I had as "Alt:a of y of (ii)". I think if anything it's probably better as a w. Either way it meant the same thing, expect a possible pull back down for b or x and then a final c or y wave up. And that is what appears to be happening now.
On the current count above, the price action is starting to wedge (thanks again Master), which would fit nicely with a final ending pattern before a sharp reversal. Notice the orange converging lines, which is forming a larger wedge. More on that below.
I have the following as possible counts:
1. A simple zigzag (a-b-c) completes y
2. An ending diagonal completes y (subwaves numbered in red).
Regarding the orange wedge. I'll take a more detailed look a little later but this may be a much larger triangle that represents a 'b' wave. If this is the case, it implies a larger 'c' wave up to come.
That in turn may imply that minute [i] of P3 may have bottomed at 1044.50 instead. I'm not going with this count yet unless the 1104.73 high(which I have labeled as minute [ii]) is taken out.
We'll just have to see what OPEX and a shortened trading week brings.
Have a great 3-day weekend!
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