Yes, it sure does look like an iv/4 in the wiggles. THat would make sense, as a C wave should be 5 waves. So, if this is the C of B, we're likely to go into the v of C of B by the close or tomorrow morning, as the iv/4 could easily have one more move down to build either a wedge or a different triangle.
Again, of course, instead of a C this could be a 3 up. In either case we should have a decline after the next high, but in one case it probably doesn't get much lower than where we are right now before climbing higher. If it's a C up right now, next week will have no alibi -- it'll be ugly.
Of course, after that move down (and nowhere near that 1410 I saw here earlier!), we would turn around and go back up, seems to me. |
