A little early, below 26.80 should confirm 27.16 as a short term high. If the retrace to 23.61 is a classic A B C , retrace the levels will be 24.94 / 25.83 / 23.61. . . . . What's your thinking on the retrace Cowboy ?
Hello Sharpie my friend! I need to see what "A" is in the A, B, C move down before I can pin down a good B and C move. However, that being said, I very much agree with you based upon the current price points, that C should at least go down to a minimum retrace of 23.60. Additionally, I looked at the time frame aspect this morning and saw that from our last move down to the start of this move up, and to where we are now shows that a 50% time retrace will hit tomorrow on 07-10-2014 (Thursday). Looking for move around 10:48 AM tomorrow, but that is just a total guess (would be happy getting the time right within a couple days...lol)
Don't forget that the FED minutes are this afternoon at 1:00 PM cst and should be posted for us at 1:15 PM cst. Also, I have one other chart that shows we might hit 27.87, so be watchful of that. Kind of doubt we go there because there is soooo much resistance here at the 27.14 and 27.21 levels. But you never know with the FED and how that may move things.
On a final note, I guess I was wrong yesterday with my post saying that 26.89 should be the top, my apologies for that. Good Luck To All!
Keep posting your thoughts Sharpie and all the others like SandyB, Mosesonwall, Kaz, and many others that I may have missed. Good to read everyone's thoughts.
Today was the 50% retrace point as listed above. Got the day correct, if not the hour :) Thinking that we head to at least 25.50 for this impulse Wave A down. Sharpie, any thoughts on where Wave A retrace finishes or are your price points listed above still what you're thinking?