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| Daily Preferred |
I like the way this count looks on TOS. This is what I'm going with for now. Keep in mind it is also possible to count the rally complete and as initially posted this AM, I had considered a minuette (ii) ZZ down in progress.
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| 15 MIN |
Here's a look at the 15 min with the alternate label for minuette (ii) down. Today's push higher may still be an X wave for the double ZZ for minuette (ii). However, notice I also have wave [4] possibly ending at today's low.
I continue to post this chart because I think this is what is playing out. 1131 is the level everyone is watching and it makes sense. Notice the descending MACD trendline (red). A break above 1131 will most likely break above this trendline as well.
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| Revers Fibonacci Confluence |
Here's a technique I have posted on in the past. (See
Reverse Fibonacci). Using this technique we see a confluence at 1112 and 1150.
