Continuing from my previous analysis (linked below). The premise behind the BLUE COUNT is that Primary 3 topped in September, and we're now working on Primary 4. Other alternate high-level counts (Red, Black) are also linked below.
It's looking like (A) bottomed and we're just about completing minor A of (B). I've been looking for a top around here since last week, in the pink resistance band. Zoomed in at the 5-min level, A now counts complete in all subwaves, with reaching 0.764 extension of . Currently I'm expecting a drop as we begin minor B. So far tonight I see a nice drop in the futures, but it hasn't broken the trendline yet. Once it does, look out below!
The targets for minor B and C are just guesstimates at this point. B Waves in general are very unpredictable and we won't have good targets until the subwaves start taking shape. However I am expecting a deep B in the 0.618-0.886 zone, possibly even retesting the prior lows.
It's looking like (A) bottomed and we're just about completing minor A of (B). I've been looking for a top around here since last week, in the pink resistance band. Zoomed in at the 5-min level, A now counts complete in all subwaves, with reaching 0.764 extension of . Currently I'm expecting a drop as we begin minor B. So far tonight I see a nice drop in the futures, but it hasn't broken the trendline yet. Once it does, look out below!
The targets for minor B and C are just guesstimates at this point. B Waves in general are very unpredictable and we won't have good targets until the subwaves start taking shape. However I am expecting a deep B in the 0.618-0.886 zone, possibly even retesting the prior lows.
Comment:
1/19 Update - As I mentioned previously, B Waves are very unpredictable. After blowing thru resistance this week, we've surpassed the typical targets for A of (B), and it looks like we're completing all of (B) instead. It could complete soon around 2714, but I wouldn't be surprised if it extends to the 0.786 retrace around 2800-2813, re-testing prior highs. Followed by a drop in (C), likely to reach the 2120-2260 region.
Comment:
2/2 Update - As mentioned in the last update, it looks like we're completing all of (B) here. We reached the bottom of my target box around 2714 (0.618 retrace, blue fibs), and some indicators show a potential top. But there is still potential to stretch to the 0.786 retrace around 2800-2813, re-testing prior highs.
