The big picture of FAS

After 5 clear Elliott waves up, FAS needs to take a breather.  It might just be a normal a-b-c retracement or it might be a mania decline.  Nobody knows what will happen on that score.  But I do know that the normal course of these waves is to take an a-b-c breather between motive sets and that means that FAS need to break down its lower support line and pull back to at least the 38.2 fib but more likely the 50% fib or even the 61.8 fib.  In other words one of the 3 red paths.  The collapse should occur with a 5-3-5 pattern and I think we are only working on wave 2 right now (very close to being done with it. 

No way was FAS going to break that lower support line just because of a first wave.  It will certainly take the power of a 3rd wave down to do that, perhaps even a 3rd of a 3rd.  That should be happening a lot quicker than a lot of people anticipate.  After this big multi year run, that C wave down is going to be a doozy.  And that is best case.   The shares have to pull back like this in order to satisfy the nature of the universe.  If it sounds crazy to say so right now, what will you think when it happens?  Just lucky on my part?  Really?  Or something larger?  As in maybe we really don't know everything after all.

Just sayin'.

Stay tuned.