Updated wave counts support the current ABC correction that would be in place for wave 4. I know this is not exactly as some other analysts have shown, but that is precisely why you are reading this too.
There is tons of support at $10,440 as the fibonacci retracement from the primary impulse wave, as well as the current wave aligning around here. It follows then, that I don't place wave 4 touching the green line, though that would also offer support and would not invalidate the wave count.
The RSI is showing this as oversold, thanks to the recent sell-off volume.
While the wave patterns continue to evolve, all signs look good to continue the trend of the originally charted pattern I posted 8 days ago:
The thing to look out for is a stronger 5th beyond my H&S targets as everyone finally gets excited about some higher highs!
Healthy trading and profitable investments,
The Freedom to Be
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