Long term I see us in a wedge (www.tradingview.com/x/x5eogjtZ/) and this looks like it could be an A wave in that wedge.
Bulls have had a great run, and a great rebound. But judging by the wave properties of this move up, I believe its just an ABC zig zag, and we are at the short term top, or at least close to it. Wave B commonly retraces 38%, but the previous "big brother" wave retraced and coiled up around the 61% mark before blasting up.
Bulls have had a great run, and a great rebound. But judging by the wave properties of this move up, I believe its just an ABC zig zag, and we are at the short term top, or at least close to it. Wave B commonly retraces 38%, but the previous "big brother" wave retraced and coiled up around the 61% mark before blasting up.
