1) This could be the peaking of a long-term correction linked in the related ideas. That is the primary count (blue) in the chart above.
2) The clear 5 wave rise from the (b) low suggests at least a three wave corrective pattern should follow.
3) Ignoring the big picture wave counts, in red from the wave ((x)) low is a potential 5 wave impulse. Again, suggesting at least a three wave corrective pattern should follow.
4) Additionally, in-line with the big picture pattern and independently, the rise from the wave ((x)) sports a three wave zigzag pattern with a complete 5-3-5 count in place.
Regardless of the larger pattern at play, I expect a decline to the 1320 -1312 range which makes for a great shorting opportunity.
2) The clear 5 wave rise from the (b) low suggests at least a three wave corrective pattern should follow.
3) Ignoring the big picture wave counts, in red from the wave ((x)) low is a potential 5 wave impulse. Again, suggesting at least a three wave corrective pattern should follow.
4) Additionally, in-line with the big picture pattern and independently, the rise from the wave ((x)) sports a three wave zigzag pattern with a complete 5-3-5 count in place.
Regardless of the larger pattern at play, I expect a decline to the 1320 -1312 range which makes for a great shorting opportunity.
