Well so much for the possible larger triangle. With that possibility out of the way, we have to look at the possible alternate counts. My new preferred count shows that wave x ended at 141.27 the 50% corrective target of the decline from 145.69 to 131.23. I still need to see a break below support at 138.68 to add confidence to this count, but if we does see this break below 138.68 we shod be looking for the part of the decline towards the long term corrective target near 126.00.
Even though my preferred count indicates renewed downside pressure, another alternate count could be that an expanded flat wave b is unfolding calling for a decline to 137.71 before wave c higher towards the 142.25 target.
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