On this massive run up we have had several pit stops of chop along way. These have essentially been bases for the next impulse. Those 4-5 days of chop in each instance lulls people to sleep likely giving up there positions before the next move. Is it going to happen again? This last time does not look identical i get it. The magnitude of the move is larger in the consolidation range (3-4 % previously vs. the last 5 days has been a 6-7% range.) Doesn't need to be identical. Its there regardless and TBH its what you want to see if you want to go higher. And if it breaks down from here that's fine too. You have your pivot pit stops to look for a reaction to take a position on.
Comment:
Pretty much hit my 1.6 ext target on upside. Mission accomplished for now.