My long term EW count with the yearly Trend Line and My-Wave. If you count the 2 day (red & white) SMI waves, they match the EW count exactly. Although it looks toppy, it will look even more toppy with another 5 little waves ramming into the ceiling.
This is the monthly Trend line and My-Wave - SMI's look more supportive of a 'C' leg up and all it entails.
Weekly Trend and My-Wave position. It is the corrective nature of the drop thus far that gets me thinking it is a 'b' wave and the SMI cluster fits in with the monthly. I reckon we are in the 5th of 'c' of 'b' before 'C' up.
Where we left matters on Friday. Price still ferretting around under the daily pivot and all my daily trend lines (the red ones). I have been trying to catch the bottom but it has been playing around and I am sitting on re-entered longs having lost a few stops catching the turn (if it comes). Hoping for a gap up Sunday night but I do hope a lot!
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