Weekend Update

I haven't been able to post in a few days because I have been very busy.

But in my past update, I said it was possible that we could get to 1114 to fill that gap down we have. This would be the perfect target for wave [ii].

Wave [ii] however seems to be taking the shape of a triple zigzag. We could get one last up push for wave (z) early next week. The target is between 1114 and 1120.

Even on the daily charts, that gap looks like it wants to be tested.

However, if we close the gap up of that large up candle on Thursday, it could imply that wave [ii] may have already ended. So 1068 is the important number to the downside.

We also seem to be finding support at the 200 day moving average. If we break the 200, the next target could be the 20 day.

Currently, the 20 is at 1125, but it is falling pretty fast, so it could be lower within the next few days.

The monthly charts are also painting a very bearish picture.

I think the chart explains itself.