[SNE] update

In yet another lucky call, my EW model called nearly the exact top of the recent peak in shares of Sony and it pointed them down.    The shares bottomed and bounced and again my model called them down.  You can read about this in the backlink.  The most recent model is at the bottom of that post and is shown below.



Fast forward to today and we see that the 38.2 fib has nearly been hit in 3 waves.  What happens next is going to be critical for SNE shareholders.  Assuming that a 4th wave HT is NOT forming right now, if we get a lower low than the recent low of $26.75 then SNE shares are likely going much lower over the next year.  But if this can hold then odds shift this pullback being a correction, not the start of a new direction.  So the play here is to buy the first dip you see and then set stops @ 26.74.  If you get stopped out the % loss will be very small but if correct then a quick gain of 20% or possibly more is likely in the cards (initial thought is it would form a DDT in 5 waves).