I am almost on holiday and tomorrow I will not be able to post the daily technical
follow up. This is just a brief comment to let you know that the Ending Diagonal
idea I showed yesterday is now my preferred count.
If the Ending Diagonal plays out then price is very close to complete a Zig
Zag off the November 16 low, although I am not sure how next week the Santa
bullish bias can affect the assumed ending pattern.
As I have discussed for a long time the approaching top can either be the "bearish" wave
(B) from the September's high or the wave (A) of a larger Zig Zag withing
the Ending Diagonal options (Break out above the September high scenarios).
At the moment both options are equally possible. Until price does not complete
the November's up leg and begins a retracement there is no way to have confidence
on any scenario.
Tomorrow If I see anything relevant I will post it on Twitter/Stocktwits.
Next week until January 3 I will be away. If I have time I will post a brief
update during the weekend.
Just in case I wish everyone a wonderful Merry Christmas.
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