[ASA] update

In the backlink I modeled that the dip in ASA should be done but today's action quickly killed that model.  So it's time to get back to basics.  

The retracement from a 5 wave move up should typically be an a-b-c retracement to the level of the prior 4th wave.  Better still if that wave resides at one of the common fib retracement levels.  

Because of the recent wave action I am modifying my ASA model as shown below.  The chart is only sitting a few cents off of the 50 fib and so that could serve as support but I think it more likely to put in a lower low than red b at this juncture.   In fact, the chart would be most satisfying if wave C ended up being the same length as wave A (see vertical bars).  The level of the prior 4th (red 4) is right at $10.80 so that is where I would look to be going deep into the miners again for another grab at the golden ring.