The current count shows that what I thought was 5 was really 3. 5 was only a few percent higher but this did change the fib calculation as shown below. As you can see, the chart has been finding support at the 38.2. that is not to say that it must bounce from here but the right play given the odds is to buy here and then set pretty tight stops - like 2%. If I'm right, a C wave is about to take off upward and it should move pretty quickly once the starting flag drops.
I could also see how this could dip one more time to around $8 in order to complete a certain count but this is not my primary count. My primary count is for this to start moving up into the next wave higher very soon.
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