Well that is a good start after all this waiting! Quick look at the daily chart to emphasize where the momentum study sits. If you look at it carefully, it appears to have 5 wave down in it, but the first loop is in fact negative divergence on the spike up to 1.3892. So this has been 3 waves down thus far. I have drawn in a diagonal possibility in the main chart, but according to my Hurst timing, the 80 day low is not due until the end of February (see yesterday's post). So with all that built up momentum, this is either a 'c' wave up in 'B' as per my bigger picture count with another drop to come later or it is a change of direction up now in 'c of E' and the drop into the 80day low will be a wave 2 down. Just keeping my options open but hope to enjoy this ride up first for a few days!
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