Last night I made a case for a five wave advance that was followed by an initial ABC correction. While the depth of the correction was shallow, I stated that it was possible that another five wave sequence would follow.
In the ON session w.B exceed the origin of w.A and therefore the move from 1315.75 CANNOT be an impulse wave but could be viewed as an expanded flat. Levels for completion are where .C = 1.618 w.A and the RF extensions of 1.236 and 1.382.
There are certainly other ways to label is chart that would have us looking much higher. I'd like to see the open before committing to a more aggressive stance but thought that you might be interested in the possibility of a trap.
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