Still, the 38.2 fib looms large as resistance and so my primary model is per below. There is change from prior model, subtle though it may be. Avi was calling this bounce 4 of 3. I'm not very convinced about that. This could be 4 of 5. It's just bigger than I would have expected for 4 of 3. If this assessment is correct it means that late july was black 3 and that black 4 should reverse downward soon as shown. But I have to say, that was a Hell of a rally and so if this does not break below red A in the next few trading days then I am going to wonder greatly if something else more bullish is happening.
In any case, never let anyone tell you that charts cannot be used to improve your odds and if they won't believe you, show them this.
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