a failed breakout above 1280ish could mean the first wave is forming as a leading diagonal and may result in a great buying opportunity 1255-1260 as wave 2
Comment:
Right now it is most likely a leading diagonal and any dip below the diagonal that stays above 1241 should be bought... note the longer term targets and I do expect a pull back towards 1270 (near current levels) after touching 1330ish and then resuming back into its uptrend toward 1380. Should a break below 1241 happen then another leg lower could happen but right now this seems unlikely.
