This chart is a follow up to yesterday's session and my previous analysis.... calling for 1314 bottom. Notice the support levels of 1314.5 and 1319.75. The Market traded to 1316 the end of w.iv circle. The wave pattern from w.iii circle counts well as a zig zag which are usually found within diagonal patterns. Notice that the subdivisions also count well for w.(c) of w.iv circle. However, the ON session's price action looks choppy and also corrective. Be on guard that the move to 1316 is only part of a larger structure and that we have not seen the end of selling. If the count is indeed correct, then 1316 is critical support. One tick below and the interpretation is suspect.
I hope you found this information helpful and...
Best of Trading.
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