This being Minor wave 3 seems like a stretch now. Today's bounce was a bit too much for this still to be a [iii] of 3 in my opinion. Perhaps IBM could push us lower, as it is currently trading lower after it's earnings.
But I think I want to stick with my alternate count for now. As I said yesterday in my weekend update, a up move would most likely mean that this is wave [c] of 2. So I will stick with that for now.
This wave [c] should continue to struggle its way higher and perhaps test the downward sloping line somewhere between 1086-1090 for tomorrow.
The alternate count is now that we are still in wave [iii] of 3. There is very little evidence of this currently, but any sudden down move that breaks Friday's low of 1061 could very well take us to 1044-1050.
1061 and 1086 are the key pivots for tomorrow.
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