WAVE COUNT Here in the weekly chart, I am showing 2 wave counts that I see as probable. However, both counts are telling the same story. Left Chart In the left chart, from the wave (B) high down, I counted the impulse wave down as a completed 5-wave Wave (1) down. Followed by a wave (a) of and ABC corrective wave (2) and a wave (b) of that same wave (2) which could very well be completed now at the lows. That would mean that we are looking at the wave (c) of that ABC wave (2) up and that wave (c) could be a very significant run up to almost retrace all of wave (1). Right Chart In the right chart, the impulse wave down from the wave (B) highs all the way down to the current lows, I am counting as the completed wave (1). And from the current lows, we should be seeing the beginning of the wave (2) retrace of wave (1) possibly all the way up to the .886 retrace level.
PATTERNS On both charts, I have drawn a POTENTIAL Shark pattern with accompanying 5-0 pattern. But this shark must end around the .886 which is the minimum validation level for a shark since it should be a wave (2) and cannot exceed wave (1).