G'day beisha ... given you a tick for effort lol. I think your start point, hence wave count, needs some work.
the first rule of EW's - wave 3 must not start lower than 1. 13/7 was lower than 24/3 so 1 starts 13/7.
I have 1 finishing at your 3, and 2 at your 4.
If so we're in 3 now and in 3 you know what can happen as far as overbought goes. FA would support that - as the sector is in a growth phase and ECS similarly. (MJ looks to have bounced off 61.8 ... confirmation maybe tonight - perhaps that's the over-riding issue here and we're a day from knowing having had such a selloff in the US the last few days.)
So let's keep an open mind on this and see how far this recoils here today (Tues) ... hope it recoils a bit more as I have more ammo.
Always interested in others EW interpretations.
Here's the hourly ... rather interesting. Going to break one way or the other - one of us is right. lol All the best.
