While the model has morphed slightly it retains its likely bullish 2016 bounce potential, this time as a more common expanding wedge. The play here is simple: Buy the first dip and then stop out at $5.99. If that happens then it is likely that the market is not going for the extra bounce and test of the $18 level again and instead is just getting red 5 over with right now. So in that case you look for a lower low than red w3 which also counts as a 5 and that should be a very significant bottom.
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