EW count and subwave count shown. I suppose subdivision of wave 5 is also valid (not shown). We hit the 2.0 extension from wave 3 to 4. However, there is still significant confluence around the $35.50-$36 range, as shown by extension from 1 to 2, and an additional extension from IPO rally to lows.

Shorts were opened this morning around $34.25 and looking to add around $35.50 IF we get there. For the more conservative investor, look to short when the red major support line is broken. When that support is broke, the MACD histogram may also turn red. There's a gap under $20 that's hard to ignore, but at the least look at the 618 or 50 from the recent run up for targets. Pay attention to the RSI channels to confirm pivots .

Fundamentals: Fundamentals don't matter in this stage of the market, but note that these guys make coolers. If you need to know more than that to confirm your shorts, their remaining IPO shares will be available mid April. This could be gravity back to their IPO price.

Yeti bounced off the lower support line I had drawn here. Look for a bounce up to the 618 ($31) to short. My current plays are May puts otm.

warrenbudget warrenbudget

ALTERNATIVELY, you may see a more standard ABC where the C touches the trendline again. Conveniently, you have the 1.272 and the 1.618 there. I plan on opening my position close to $31 and adding more if we start piercing thru the 618. This may indicate weakness in that resistance and push us to those higher targets ($32.33-$33) can't go wrong with trading the 618 tho.
Great TA! Keep up the good job
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wow, u don't make too many charts but when u do, and the fact that the market was up huge today! testament to your skill sir.
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@TomPower, thank you!
If you're following yeti, look for a bounce... let's see how high this bounce goes. Will either be a wave 5 or a B wave (I'm betting on it being the B wave). Then down we go into the low $20s.
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@TomPower, in fact I just checked on price action from this Friday. We are hugging that lower support line that was broken. This will probably be the kiss of death before the plunge
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