[SUNE] update

In my first post on SUNE I provided the model below.




Since then we got the snapshot below which is essentially the red path above (expanding wedge).  Notice that this could not, even with all this wild buying, break back up into the range of green 1.  That suggests that it was only green 4 and thus need one more wave down which could form into an inclining double bottom or it could do a lower low as shown.  But if this can move back up into the range of green 1 then this bearish count is destroyed and green 3 will instead count as blue 5.  The market has wide open choice right now to go either way.  But smart longs sold today's peak and will only buy back on the first dip AFTER the current wave moves into the range of green 1 OR we see the appropriate final move down from here.

Either way, I hope people see how foolish it is to trade on so called fundamentals when the chart action using EW is really your best market timing tool.  Of course, odds and not certainties.