Just a bullish idea. If the CPI and the FOMC come in with bullish influence, this 5th wave looks possible. See my previous post for a bearish perspective.
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Note: the RSI shows a scribble that I left from my previous (short term) bearish post.
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This looks a little more reasonable.
This looks a little more reasonable.
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Looking again at how I was counting these corrective waves, I realize that although I might be able to count 11 waves (of the same order) within that WXY, I did not label the sub waves correctly. I'm far from being able to identify and label complex corrections.