We finally got some good action. As expected over 6,850 we got some good volume entering as smart money was waiting there. We got a stronger spike then expected which took out 3 levels of resistance at once and only got stopped in the target area. But the target level of the inverted H&S is not reached yet. The target is at 7,800. In this case we can label the Elliot wave as shown. We are now working on wave 4 which most likely will target the 0.5 fib zone and support number 2, as shown in the 15 min chart. I still expect wave 5 to complete the H&S at 7,800.
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