Today's action is below and I think it is a hybrid of the two models suggested in the link. In short, the move up today looks suspiciously like my WC and that means not motive and that means B of 2. If we get 5 more waves down as shown to the 61.8 or perhaps even the 76.4% fib, BUY USO and all things oils because the next wave up will be a 3rd or a C which will move fast and profitably for those who can count EW.
By the way, I am counting these as black 1 and black 2 at this point but they could be instead black A, B and C. In other words, just a big pause in oil's eventual crash down to $20 per BBL again. Still if that is all they are it will be a very profitable pause. Markets go up, markets go down. Good EW traders will make money either way.
Note: These big wide retracements are often B waves instead of 2nd waves so just keep that tucked away to be sure to take profits after the next big wave up.
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