As we have made a new high today, I have changed my count slightly. I still think we are close to a top in wave v of 1 and is looking for a move closer to 17.30, that any break below 15.07 will indicate, that wave 1 is in place and wave 2 is developing. The ideal target for wave 2 will be close to 9.36, which marks the bottom of wave iv of one lessor degree.
Could I be wrong and the on going rally is "only" wave 3? Yes of cause, but to confirm that possibility we need a clear break above the base channel resistance-line and accelerates higher. If this outcome is confirmed wave 1 ended at 13.45 and wave 3 should at least reach 19.09, but will more likely continue higher towards 25.11. This is still not my preferred Count, but we will have to stay flexible.
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