I’m a tad perplexed on this chart as one can make the case for some bullish action BUT I’m not even to try and count the different machinations and I don’t want to “could have would have should have” when it comes to my wave counts …
I’m picking lower simply because of the last time it did the same measured move .. it corrected about down to the blue box. That’s my kind of investing – as many of you know – I WAIT and STALK a chart for a long time before entering. So .. seems reasonable to me.
Obviously, out black neckline of the H+S present is “crucial” for the bulls as I don’t want to see a weekly close below that line or – that opens up the first target of 64-67.
From there I see the blue zone as MAJOR support and a BUY if you can wait that long …
