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06/09 UPDATE: Dollar Reversal yesterday undoubtedly will affect this chart. For now I’m sticking with the count as shown but I don’t think it’ll go as high as I have projected.

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The market has spoken. Looks like the minor (iii) ended at 8.15. We’re headed down in a minor (iv) which should end at the 38.2% retrace (around 7.43).  If this is correct then minor (v) up should start with a new target around 9.05 (assuming iv ends at 7.43) where (i)=(v). Note, also the the 100% Measured Move target for an ABC move would be around 8.60.  Once (v) starts we want to watch the EWO closely. If we get a higher price and higher peak on the EWO, we have at least one more high to come!!! If we get a higher price (above 8.15) and lower peak, then we go down in a 3-wave corrective…. in that case take profits and either wait to get back in or go long for the corrective…

0608_JDSTUpdate

Note to self: when counting minute waves and you have a couple of gaps in a row each one is a complete wave as here first gap gave us minute iii, second gap gave us minute v. All looks plain to me now!!!!!