I have added D7 to the Monthly My-Wave chart in an attempt to pull together this storyboard that has been beating me up a bit mentally. Crashing through D6 yesterday does give the impression of a down trend but D7 (next sequential target after D6) is in a peaking formation above (bottoming price action). The scare-em-a-go-go yesterday would be a perfect 'b' formation activity in my opinion and a break back through D6 would help the story no-end.
However, keeping me company is the fact that D5 (also sequentially acceptable) is also above at D1/D4 confluence and a break there and a re-break of D6 to the upside would have done all the back-testing needed for a run to D7. I know I have been harping on for a week or so about this, but that low last night may prove to be a great entry, if it holds.
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