The data has been all over the place with the volatility.
Are we in Intermediate wave 5? I think so
Are we in Minor wave 2? I thought so, but the wave cycles were not clean.
Are we in Minor wave 1? This is my thought today.
If we really are in Minor wave 1, I assess we are at the end of it. The shock drop the other day on President Trump's tweet would make for a Minuette 4 instead of any larger wave. I assess this to be the case because it was took sharp and quick to have been a larger wave. With that said I am projecting the potential end of Minor wave 1 this morning. I have indicating the rough timeframe with the vertical dashed white line.
I have placed 4 potential reversal levels and the reasoning behind each level. The top level was an original top, but I do not see a solid reason for this to be the resistance as of now.
Sit back and enjoy. Projecting drop today through tomorrow?