Hi everyone,
Overview: lets review my expectation on the update of July 4th: "From this point, I am expecting a rally to retest some portion of (Y) and then the final leg down as another zigzag , wave (Z). We need to wait for wave (X) to develop its initial subwaves to come up with an idea of its potential targets."
Update: we were almost perfectly accurate noticing the bottom. As I mentioned in that update, now that we have some part of wave (X) developed, we have an idea of what form of correction is in play. Wave (X) is developing as a double zigzag, with W and X complete. Right now, we are in wave (III) of a of Y of (X). For now, I am considering the peak of (X) in the 88.5 area.
Overview: lets review my expectation on the update of July 4th: "From this point, I am expecting a rally to retest some portion of (Y) and then the final leg down as another zigzag , wave (Z). We need to wait for wave (X) to develop its initial subwaves to come up with an idea of its potential targets."
Update: we were almost perfectly accurate noticing the bottom. As I mentioned in that update, now that we have some part of wave (X) developed, we have an idea of what form of correction is in play. Wave (X) is developing as a double zigzag, with W and X complete. Right now, we are in wave (III) of a of Y of (X). For now, I am considering the peak of (X) in the 88.5 area.
