marquasIf you take shetoldmetosell's wave count as correct (may...

marquas

If you take shetoldmetosell's wave count as correct (may well be), the 5th wave bottom should be lower than $19
ie
Look at the larger degree wave count on top of shetoldmetosell's count

Top of $50.00 on 16 May
Wave (1) bottom of $35.82 on 5 August = fall of $14.18
Wave (2) top of $42.04 on 28 August
Wave (3) bottom ... either incomplete or at best completed today. If so fall of $21.08 = satisfies Elliott rule that wave (3) be bigger than (1)

From the bottom of (3) we should expect 3 waves up to a point no higher than STMTS's rally target (wave (4) top), which would then be followed by 5 waves down to the bottom of the higher degree inpulse wave, which should be no bigger than wave (3) & around the same size as wave (1).

Giving a "bottom" target range of (assuming STMTS's rally target of $31.61) between $17.50 & $10.50 .... but tending toward the upper value.

So there should be some trading money to be made very soon (this bottom back to say $28) but certainly wouldn't hold beyond there & would wait until it breaks above $31.61 before going long again.