SLV - Weekly
I switched to prophet for it's channeling tool vs strategydesk. Some nice channeling there. Not sure why I didn't add them to the previous chart.
[3:23 PM UPDATE]
Here's a very long term bullish alternate that is intermediate term bearish. This would also work with the Minor 4 flat option. I like this as a potential since I've never really like how I have labeled Minor 3 on the other charts.
Just something to keep in the memory banks.
EOD UPDATE
DAILY BOLLINGER BANDS
The market closed above the 20 day MA ever so slightly. The daily MACD is curling over and potentially headed towards it's trendline support.
Minor 5 Bull Option
This option is still very valid. The waves off the 1370 high are still corrective. Wave (2), if complete, has reached the 50% retracement level. This count will be ruled out if the market retraces below wave [2] at 1294.70.
This option is still looking good as well. Based on this count, I'm looking for a wave a/w low before bouncing in a wave b/x.
Minor 4 Flat
This option is still looking good as well. Based on this count, I'm looking for a wave a/w low before bouncing in a wave b/x.
Minor 5 Ending Diagonal
I have this puppy on the table now due to the overlapping waves up . This count is out if the market continues to retrace beyond wave [2] at 1294.70. The invalidation level is pretty much the same as the Minor 5 bull count.
