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Bill,
Here is what EW is saying. On the 60min wave 4 up complete (5/35 oscillator
to zero). Daily same thing wave 4 down complete 95/35 oscillator to zero.
As I see it an important juncture. Note the 60min is at the top of the down
channels and between a .50 & .618 retracement of wave 2 to wave 3. So higher
a re-label to a large ABC, lower wave 5 beginning. On the daily wave 4 complete
but no ABC which I like to see (however a possible clear one on the 60min?).
Advice, let the market tell us, but I would call this an important
inflection point , which could go either way. Took my 104 short puts off at the
close accordingly.
Good trading,
don ewers
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