There's no denying that this rally is getting long in the tooth and the fact that this looks good as a wedge. The question is what stage is it in if this is an ED?
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| 30 Min |
I like the fact that whether you count this entire structure as 9 waves or 13, they both assume the same thing, there should be one more leg up.
If 13 waves, one more is needed since I see 12 waves into the close. If counting this as 9 waves, notice that the wave structure after wave [8] can be treated as one last wave as an ED to complete 9 waves?
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| 5th ED |
Here's the option looking for one more wave up. See below though should we see selling right out of the gate tomorrow.
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| ED Complete |
This could technically be considered complete. Until it breaks down below the lower TL, lets go with the above.
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| ES |
ES may be looking for 1 more push up to towards the 1353-1362 zone.
