Primary wave 4 may end today. It appears to have formed an ABC zigzag style combination as shown on the chart. The C wave looks to be forming a triangle. That count would only require an E wave decline to complete the triangle. The E wave would probably complete at todays low.
A completion of primary wave 4 would portend a move upward to first test the February high and then the January high. A move above the January high would probably confirm that primary wave 4 is complete.
An alternative possibility is that the current decline is the C wave of a larger triangle or combination. I think this possibility would have lower odds based on other technical indicators and sentiment.
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