Interesting post by PhillWMy attempts at EW count. I'm a rank...

Interesting post by PhillW

My attempts at EW count. I'm a rank amateur but having said this the EW count on the second chart posted on March 25th, is tracking quite accurately to date.

Last nights low met the requirements of an (a) = (c) move to complete the minimum abc (blue) correction of the last rally. A close above $29.10 shifts the odds in favour that the correction is over.

We could however be correcting in a larger ABC correction meaning that the completed abc correction was just wave A (magenta) of the larger ABC. If the larger ABC correction is playing out, then we should still see a rally that peaks somewhere in the blue box as the B wave before heading down to the blue box marked C in the $25-$26 area.

Now if the larger ABC correction is the correct pattern, then that would indicate that the correction has approximately 12 more trading days to complete.

Now there is a very low probability that the magenta C wave is just the (A) wave of a very large corrective pattern but I place a low probability of that. A close above $28.50 after the magenta C wave completes would shift the odds in favour that the magenta ABC corrective pattern was the bottom.