Here is the backlink. Below is the model from that link.
Below is today's update and as you can see, it tracks very closely with the model. I can in fact count this as a-b-c or 1-5. I assume for now it will turn out to be 1-5 but that is why we assume nothing and check the wave count. We will know what the answer is by the shape of the decline. This being a 2nd wave, it could turn out to be a deeper vee than shown so be patient, don't chase but when I give the go-ahead neither be timid about going long because I see the likely upside on this model to $20.
Thursday, February 5, 2015
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