SLW at 26.89 should have topped out for a short while
Chart shows that 26.87 was a 5th wave top (we hit 26.89). We should be heading into a down trend for a while now. This would also mean (and rightfully so in my opinion) that we have had a lower high from our previous run up to 27.14 with this current high of 26.87. 2 Year Daily MACD and RSI look like they are ready to roll over as well. Good luck to all.
Good post. Thanks. Also note that its sometimes 34 TD's from a low to a low, or a high to a high.
The low was on 5/28. 34TD'sfrom 5/28 is 7/16.
I follow Delta Trading points and Intermediate point #2 is due on 7/16 (plus or minus 4 trading days) and the biggest moves are on either side of #1 and #2, so if this is all correct, then I would expect some heavy downside action into 7/16, possibly bottoming out at around 23.00.
We then could have a big run up for 2 months in some 3rd wave action into 9/16 or so.