This is an addendum to my original chart,
The possibility of a wave-4 triangle seems like a good chance right now (I'll give it a 50/50 probability)
I've highlighted a possible path along with a target should this triangle materialize. The target incorporates the "alternate target" from my previous chart (Purple), but expands upon this target using the thrust height of the triangle, and the lower trend line from the alt target.
The MACD hooking higher, coupled with the lack of an impulsive move lower has me thinking the wave-4 is not yet complete.
Note that the triangle boundaries are approximated since it is currently lacking a C or D wave to draw proper trend lines, so the actual target may vary slightly but should still fall in the vicinity of where I highlighted with the lt. blue triangle. This triangle becomes invalidated by a break of the recent $25.12 high, or the $18.90 low.
I've highlighted a possible path along with a target should this triangle materialize. The target incorporates the "alternate target" from my previous chart (Purple), but expands upon this target using the thrust height of the triangle, and the lower trend line from the alt target.
The MACD hooking higher, coupled with the lack of an impulsive move lower has me thinking the wave-4 is not yet complete.
Note that the triangle boundaries are approximated since it is currently lacking a C or D wave to draw proper trend lines, so the actual target may vary slightly but should still fall in the vicinity of where I highlighted with the lt. blue triangle. This triangle becomes invalidated by a break of the recent $25.12 high, or the $18.90 low.