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⋅ 200 ma, and FB 2.618 provides support.
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⋅ Scrap the bullish option. V-1 coming up.
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⋅ Added wave A = Wave C option
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⋅ Wave C could be an extended 5-wave down. Wave A=Wave C very likely too.
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⋅ A stronger than expected wave (iv) bounce. An iHnS patter developed. If this rally continues, EW might be invalidated. See price targets on chart.
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⋅ With todays price action, I believe the bottom will be within the zone containing wave A = Wave C or the Feb 09 low.
An alternate is if the 200MA held. Then wave (iii) will be wave (iv) like the earlier update above.
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⋅ Adjusted final price target to line up with strong support at the Wave a = Wave C, Wave a = 1.272 Wave C
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