I agree the entire market sell off yesterday distorted it. Probably a combination of the Japanese issue, expiring futures contract and Davos FUD influence... But who knows...
ABear
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I would agree that the original 12345 are right... and the abcde correction is right or close to right as well. The rest is conjecture and that is all good. Although, I think the fib trend line extension might reveal some additional valuable info.
Nice to see this - as it is your first chart - I think a lot of us are new to this. I know I am as well. Cheers. C U round the TV.