SUMMARY
Corrections are HEALTHY!! Corrections are needed for prices to go UP! I believe we might have another healthy correction in front of us and the likelihood is increasing as the below H&S Top pattern further develops.
I'm getting more cautious about the below Head & Shoulders pattern. It's clarity is becoming more and more uncanny. I've added the Neck Line and labeled the Left Shoulder (LS), Head (H), and Right Shoulder (RS). IF the RS completes, then confirmation will require the breach of the Neck Line (white horizontal line). So, the $15,571 support is important. If this pattern executes, we could see a correction target of about $11,479 or so. I'll be watching this carefully throughout the day and will send mid day update if required.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**