Backlink. The hope for longs is that this will turn out to be a failed 5th. However, the recent additional selling has broken below the lower rail as if if was going to be a falling wedge. Perhaps that means this is only 3 of 5 down but there are other options as well. The important thing here is for the chart breaks back up into the channel and then back out the top very soon now. As in the next day or two. Otherwise I'm going to have to rethink everything here.
Tuesday, June 30, 2015
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