Disney chart looks like its bounce should be done.

I've been watching DIS for awhile now.  Here is a post before the crash began stating that "DIS shares are about to turn Maleficent".  That post was created Sept 24 when the shares were still trading at $89.45.  Within 3 weeks they had dipped to $78.50.  That is a pretty good whacking for a Wall St darling poster child for conspicuous consumption which is Disney.  Maleficent indeed.

Below is the current chart which has just printed what I count as a rising wedge (blue circle to the left).

The wave structure in place for the bounce which started Oct 15th counts nicely as a-b-c.  Per many previous posts on the matter, I have noted that rising wedges have been 3rds or Cs.  In this case I believe it to be a C wave.  However, given that the chart so far peaked with an ending diagonal that finished with a throwover in September, it is possible to see the current wave actually count 5 waves up in order to print the real 5th here.  If this happens I expect it to be a short stroke 5th, just like I expect for GE.  If this does turn out to be 5 waves up it should top out ~$90-$91.  This outcome would fool many people because the next move would be down rapidly to a lower low even while everyone would be looking for an a-b-c down and then 5 more up.  In other words, they would mistake it for the start of a new big motive wave when in fact it was a very weak short stroke 5th wave to mark the real technical end of the rally since 2009 (which can of course be lower than the actual end in terms of price if the 5th is a short stroke / failed 5th).

The reason it is important to know the difference is that it matters in the count that is coming.  If this is a 5th wave up then the next wave down will be a first, not a third.  Thus it will likely be weaker than if it were a 3rd.

In any case, we should likely know before 10am on Monday what is really going on here.