Short post today as I am in a rush, but I will have more over the weekend. I want to try to do another video if I can. I'll try to give a bullish and bearish argument over the weekend as we are at a critical junction at this point.
Just 2 charts today, showing the daily wave structures. These are 2 possibilities I see right now. Both are bullish, one being more bullish than the other.
The first one is the more bullish one. We have a 5-3-5 up move from the March 2009 lows, and we are in the middle of Minor wave 3 of Intermediate C. This could take us to at least 1234 before a small wave 4 pullback, then we go towards 1285 to close out the year.
The second possibility is that the up move from is an A-B-C as well, but with wave B being an expanded flat, basically crossing over into wave A territory. Wave B ended at the 1010 low and we are now in wave (C).
1234 is also the target for this, but we could get a larger pullback in this... perhaps even a change of trend.
Bottom line? Well 1234 is the next major upside pivot. Either way, we could get a pull back towards 1200 if we get closer to this pivot and get rejected.
Check back over the weekend for more stuff!
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