From the last few posts, my sentiment has been: I had a 'prove it to me' attitude with respect to any kind of decent correction, and it is failing miserably to do so. Today is starting to change my mind. Maybe not 'proof', but 'circumstantial evidence' at least :)
Nice move down, good volume and breadth and set a new slight low. However, we have not yet broken the 23rd low. It needs to do that soon. So assuming that it does, this is the count that I like.
Again, I would strongly caution against trying to count the move down from 18th as an impulse (i.e. 1 = 18th-23rd, 2 = 23rd-4th). That count is absolutely absurd (and like I was lamenting on Thursday, I did actually see more than a couple of people showing that ridiculous count). However, I do like the A-B-C count below and the C looks like it could be a nice tradeable impulse.
From E-T: Weekend Post – March 10, 2018
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There is a new post on my blog at this LINK. Cheers and enjoy the chart! E-T
6 years ago