If you look at the larger trend, back on Feb. 22nd we had the 4th wave take a dive, but the 5th wave still came to the trend line (wedge). What's happening right now is the exact same thing. We had 3 waves, then the 4th is taking a nose dive, and the 5th wave will take us back to the trend line at about $10,300. People think we are about to go down into a descending wedge. I think its a false wedge and in fact, we are just now building a channel for the 5th wave up.
See the channel in purple? This is the exact same event that happened back on Feb. 22nd.

See the channel in purple? This is the exact same event that happened back on Feb. 22nd.
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