Things are certainly looking up. We've broken to the upside on the downward channel from the dump a few days ago. We've got pretty clear waves 1-4 where 1 and 4 are overlapping by just a wick (ok in a highly leveraged market). Expecting heavy resistance at 556 which is not only a strong resistance/support from before the drop, but lines up nicely with 1.0 fib level. Sell range would be somewhere between 565 and 606 (1.618 fib). Watch for a bounce off the resistance at 556, or a fat green busting past to determine whether or not to sell early.
Personally I'd set a stop loss close to the swing low of wave 4, but that might be too deep for some. As always this isn't financial advice and YMMV.
Personally I'd set a stop loss close to the swing low of wave 4, but that might be too deep for some. As always this isn't financial advice and YMMV.