This is a one in a hundred wave pattern, If I could share the image of a truncated wave example, I would (https://ewminteractive.com/truncated-fif...) . The image is of JPY/USD pair 4h time frame from October 2013 - January 2014, it is one of the best example of a truncated 5th wave. The patterns are similar to the 'T' on this chart. I predict that a side wave movement will occur and then a drop.
Post navigation 2:36 DJIA Worst Day Ever in Context 6.02.2018
Read more at: https://ewminteractive.com/truncated-fif...
There is heavy resistance near 12.5K... so the “rally” beyond 13k is possible but unlikely when one combines the length of Wave (1) and overlay it to Wave (5) with the heavy resistance above. Will it exceed 13k... It “should given the inverse H&S height”. But not as a rally but more as delayed approach with a testing of 12.5 as (1)-(5) Waves will have completed here and followed by ABC correction that should retrace to the are of Wave (4) low. Then the new pulse wave will rally to at least the height of the inv H&S
I have to admit I did not see the truncated wave 5.