Since the year end high at 3.03 we have been in a zig-zag correction. Wave A ended in early February at 2.57 and wave B ended in early March at 2.82 and we have since been in wave C lower towards 2.36 and maybe even lower towards 2.07 if wave C extends. Short term I will be looking for a break below 2.57 to confirm that wave (iii) of C lower is developing.
The short term cycle will point hard down into May 8.
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Have a nice weekend
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