Office REITs in the US have been beaten up for a long time since 2015, differently than stocks. SL Green seems to have finished a primary wave Y down and it is developing its first impulse wave in the upward direction. The most probable scenario is that Minuette wave 5 started at the first minutes of the section with a good volume. If this scenario persevere SLG should reach more than 10% gains in the next two days. A retracement below 46.00 would invalidate this case. FOLLOW SKYLINEPRO TO GET UPTDATES.
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Sub-minuette wave 5 happened to be shorter than expected and because of that minor wave 1 ended initiating an ABC correction to in minor wave 2. We adjusted the wave count base on this. This correction seems to be finished and prices should be moving into a minor wave 3, the strongest of the 5 impulse waves. The trade continues as long as prices do not move below 39.10.
Trade closed: stop reached
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