PreferredThere are still a few options out there but after today's action, this is still the count I'm watching.
The ED I presented earlier will be applied here for minuette (v). Notice that the market broke thru the MACD trendline resistance?
10 MinHere's a closeup of the ED. The options are it is either working on 4 or still on 3.
I don't place the alternate labels here but this structure may still just be a w-x-y as highlighted below.
AlternateJust a w-x-y for wave b/x? For a legitimate expanded flat to exist, the market shouldn't rally above 1255 , which would make wave b/x extend a/w by 1.618 times. Any further and the odds decrease that it is an expanded flat.
Notice that the ED count and the w-x-y above potentially imply the same thing? one more little push up and it can be considered complete.
