We found our target zone yesterday and reversed out of the acceleration channel signalling that buying pressures are waning. The fourth wave invalidation level was tagged yesterday as well towards the end of the day session so that locks in the magenta count as our primary and the white three wave corrective count as our alternate. Ideally we'd like to see the highlighted base channel mark the turn zone, but as previously mentioned, extended fifth wave retraces often move back to the beginning of the wave, or in this case 2120. We're in the mature stages of our daily timing window for a turn so that is why we favor the turn happening from this general area as opposed to 2120, but since everything in markets are probability based and not a certainty, it is always important to manage risk accordingly because that is what keeps you around to trade another day. Below is the link for today's projections and remember to always plan your trade and trade your plan because inconsistency is a road to ruin.
If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm. ct
Key Timing and Projections Link