Showing this chart again. Was looking at it and if repeating, tomorrow we gap and go.3:27 PM Update
A wave 5 extension options. AS Arg reminded me of this count earlier in the day. Thank you AS Arg.
EOD Update
A simple repeating pattern that makes me believe the market is attempting to tag 1330.
Primary CountThis count continues to play out. I believe wave 3 of 5 is closing in on 1330. An alternate there is that wave 4 red may turn into a flat, which would require a little dip down to 1315-1320.
Here's a 10 min view.
Wave 3 Extension OptionI'll continue to monitor this chart as well.
Update on the channel chart.
ED OptionI can't believe I missed this but the ED Option I have been presenting is not valid. Wave 4 does no retrace back into wave 1, which is a rule.
This came up again in the chat room and I can't believe I missed this one. Once again, EWP, 10th Ed, Page 88, it is written, "Wave 4 always ends within the price territory of wave 1."
Obviously that hasn't occurred here so we'll just treat this as most likely an impulse wave up.
