The chart of BBY suggests that Q3 of this year will not be kind to the shares. I don't know any other way to read this chart than to say it has entered wave 3 (or C) down. The a-b-c worked hard to fill the gap from 3 of 1 but it has to be done now that 5 rail bumps have occurred on its C wave ending diagonal, the throw over is in and it has broken back down in the channel. In fact 5 of C of C was a tiny little ending diagonal as well.
If 3 of 1 (or A) had that kind of gap, can we expect much less out of 3 of 3 (or C)? Time will tell but if you went bottom fishing on this one after the first crap out, it's high time to take profits and flip short.
Top level monthly model of BBY suggests that C of 5 is about to unfold. Target price: $8 or lower.
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