SUMMARY
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Marriot International (MAR) is also likely starting the red halo events. The chart below shows a clear and crisp five wave run up where wave 5 is already or will soon be complete (red halo). Would you be a buyer or a profit taker at this point? When a major service company like Marriott is showing toppy charts; an economic slowdown could be fast approaching.
Note the extended 5th wave! The subwaves (blue) of white wave 5 fits well and qualifies the count. The blue abc provide the likely pathway for correcting the blue five wave up. Would this be the end of the correction or has it just started?
The blue abc are subwaves to a higher degree of trend red A wave. The red B wave could potentialy fool many to think that the correction is over only to experience the red wave C down effects.
The bigger picture shows that the blue circled waves are higher degree of trends. The red ABC correction is the subwave sequence for blue wave 4.
The MACD is saying a blue wave b bounce is to be expected. However, once red A is complete, then red B and C must come into awareness so as to not be surprised.
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