Saw the Ending Diagonal and was also wondering if a Wave 1 or corrective.
Have you ever seen a ED in a trend change or wave 5 of 1 ?
I don't think it is a possibility, except in an A or a wave 1 or 5 ?
Good point! I was just going over the preceding price action, and am now thinking that this entire rally was merely wave (C) of an expanded flat - instead of an (A) wave of a zigzag - hence the ending diagonal... in which case I am not thinking of going long anymore. I think the final bottom will come sometime in the 1st quarter of next year.