Subminuette wave count is playing out. Looks like a lateral move until earnings with a slightly upward bias. RSI 2 is at 36 as of this moment and heading towards the 5 oversold level. I will load up next week for a turn.
White spinning top today so I will be buying on a pullback to S1 tomorrow for a ride up to $63.50. This should take 2-3 days then Wave C back down to $55.
I thought we might have broken out of the wedge today but no such luck. Looking at RSI 2 there is probably some more downside to the rising trend green line which is tracking the 50DMA
For what its worth....FB hit the turn date today at 10:30 coupled with an over bought 2 period RSI. I suggest we are going down to the 23.6% fib and maybe the 38.2 % fib before we head higher. The next turn date is scheduled for this Friday at 3:30pm
