Boeing update

Boeing Aerospace seems very near a major reversal.  After black 1 down we got a strong retracement into black 2 and then a short wave down which I count as 1 of 3.   Importantllack y, that wave was a lower low than black 1.  So the market could be establishing a position of lower low and lower high. Now we see what could easily count as 2 of 3 reaching up to the level of the prior 4th.  Maybe it has another $2 left in the push but that should be about it.  When it reverses back down, I doubt it will be falling alone. 

The alternate count is that this is some kind of horizontal triangle.  If this goes back up to about $136 and then sharply reverses back downward, that will become my primary count.  In that case, the current wave is likely A of C meaning it will peak soon, retrace 38.2 and then go to a higher high.  If BA is going sideways like that then the market will not likely be crashing.  In that case, the months of Sept and Oct become the target for the big sell off.