So now I’m stuck in my red position as usual. It looks like wave 5 of A up is in fact complete, the oscillator was wrong. A 62% retracement would take us back to the 1235 area. If C = A then it is possible to reach 1326. I have relabled my chart. I think this down wave is only A down and there should be a bounce and then final drop to 1235 area. The only good thing so far is that volume is rather low.
Well, I am going to go with this count actually unless the red line is broken. It’s the count that matches the NDX the most. If the red line is broken I’ll switch back to the count above. I am thinking some ending diagonal will form which will end this rally, but it’s far to early to be sure.
