I was hoping wave 5 would be a move of symmetry measuring the same move as wave 3. The symmetry target also lined up with the 1.0 projection.
The move up could be done for now and time to correct the whole move up from the bottom. I wouldnt be mad if price dropped out of the pitchfork and in to that crevice :P
Assuming were in the 5th wave...The 4th wave(complex correction) and what looks to be a blow off top with lower relative strength gives it away.
I'm also assuming some symmetry with the 3rd wave and my projected 5th wave. The symmetry target lines up with the 1.0 projection.
With current events, I'd expect some global crisis to signal the top
It looks like wave 1 just completed. This will allow me to look for probable wave 3 targets on the down side. While the oscillators and RSI say things could move back up, having a look at the daily time frame pretty much says were headed to the downside.