Tesla Update: Still choppy
Today was choppy yet again. Does that strike you as something you would see in an impulsive motive wave? If you answered yes, then you should go back and study the difference between corrective & impulsive patterns. Not saying LDs are impossible...but in a wave 3? That just isn't something I'm ready to get behind. Not to mention we still don't have positive divergence on the micros.
On the chart you may notice some orange fibs. These are the micro fibs I am watching for this wave 5 of c. According to them, price should turn around just under the 1.0 in the $167-$170 area. I want to repeat though; we have hit the 0.236 larger fib @ $181.77 and bounced. This is a normal spot for the next impulsive wave to begin. When boiling down to the smaller timeframes however, they point to slightly lower as stated above. Something I have mentioned several times in the past, "Larger count is King". This means that the larger count could be considered complete, and we could start to raise from here. My primary thesis remains that we need 1-2 more lows first due to the structure/micro count. Either way, the end is nigh!!
On the chart you may notice some orange fibs. These are the micro fibs I am watching for this wave 5 of c. According to them, price should turn around just under the 1.0 in the $167-$170 area. I want to repeat though; we have hit the 0.236 larger fib @ $181.77 and bounced. This is a normal spot for the next impulsive wave to begin. When boiling down to the smaller timeframes however, they point to slightly lower as stated above. Something I have mentioned several times in the past, "Larger count is King". This means that the larger count could be considered complete, and we could start to raise from here. My primary thesis remains that we need 1-2 more lows first due to the structure/micro count. Either way, the end is nigh!!
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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