Hey everyone!

Where are we now, well it looks like we have peaked for the short term (overbought) and have finished the 5th Wave for the A and now form the B and ultimately the C. 

I would like to see play out and that  we are forming a new channel and we are going to  have peaked here in the short term and correct to a higher low at either 1090, 1080 or 1070 those are just Fibonacci retracement levels and would be a great place to go long.

So the count is that we have finished the 5th Wave of the A Wave and now will form the B, the ultimately C. I will scale out of shorts around 1090 and 1080 and think about some good long moves. So far that looks like it might just work out perfectly according to the futures

Make no mistake, I do think this is a short term correction down, then on up to the 50 day moving average or up to around 1170. That's where I do think we peak out.

So here is the Fib retracements and Wave count on the chart.

Good luck to all and good trading :)

Peace Love happiness

Anna