The base pattern that it is in decrees that it makes higher lows...

The base pattern that it is in decrees that it makes higher lows & let's not forget lower highs. The movement today was to be expected. This next move should take it to the top pattern line if it can break the 62% Fib. Being a short term swing trader I base my analysis on short term swings. The fat lady hasn't begun to sing until this has a confirmed break of the top pattern line and that's a fair way off. imo.