A little messy chart - my working chart so I apologize in advance for the indicators and lines. In short w4 for C of B for EW fans is in play which should end arond 271x w5 should carry SP to 278x range completing the harmonic, it's possible to extend higher but lower probability. Then Wave C begins down, with two possible targets if it works out to be flat.
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keep in mind also that XIV liquidates Feb 20th. Also DXY is possibly in wave 4 - wave 5 down still possible to help push SP up
The drop is trying to overlap your green 1, suggesting three waves up to 3, which might develop into a rising wedge for C
kunsan
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Note that your wave C so far looks like a three and might be the first part of a rising wedge for C.
kunsan
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Very nice chart and idea. I also have the 2774/84 area as a potential target but for other reasons. In terms of timing, to my eye nearer Feb 26th looks more likely for a top.
JohnBaron
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@kunsan, keep in mind XIV liquidated on Feb 20th - i think i read 14 billion shares