Wave 3 OptionI forgot to add this option as well. Keeping an eye on it.
EOD Update
Fib FanI have been watching these fans for some time and posted this chart for some time now. A solid break over the 62% fan occurred today with a close.
This fan may now be something to keep an eye on if a pullback occurs next week. The next area of resistance above is 1300-1313. Need to be mindful of this potential.
The market continues to stair step higher and this chart has provide simple guidance as well. 1286 below should provide initial support for any pullback. Interestingly, the 62% Fib fan above rests at this level as well.1286 is also an interesting level for the wave 5 extension option below. This level represents a 50% retrace for wave 2 if wave 1 is complete for that option.
Option 1I realize that my option 1 count did not match up with the 5 min chart below as posted yesterday. This has since been corrected.
It is possible this count wrapped up today. There may be room for a little more upside early next week as price attempts to head for the upper channel. But for all intents and purposes, this count may be complete.
Option 1 - 5 min
Wave 5 ExtensionI like this as an alternate option considering the daily bull cross that came today along with the close over the 62% Fib fan.
I like the level the Golden Section projects to since there are Fib confluences up there as well. The labels are not placed haphazardly. They are based on Fib extensions and retracements. Let's see if they play out.
