SUMMARY

From the looks of pattern, Elliott Wave sequence and MACD; the complex correction seems complete and a trend reversal is being staged. The correction is now almost five months in age; and that is long enough of a gestation period for a bull market to be born!

The rounded price formation is pretty clear and that an impulse is leading to higher highs (white). IF a Cup & Handle is to be formed, wave 4 would likely coincide with the handle formation and won't likely be a deep retrace since wave 4s retrace about 0.38 Fib level. The MACD is just about escaping out of the containment of the contracting lines. Even with minor corrections that could potentially bring out the bear calls, I believe higher highs into July is probable.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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