I did a chart on this one back in July, 2018 calling for a bottom in wave 4 and a resumption of the uptrend. I was a bit too early on my bottom call but sure enough, it has resumed upwards with the rest of the market since the beginning of the year and did so at almost the exact level of the wave 4 of higher degree. This count suggests that the rally/impulse could be temporarily running out of a steam. Lots of enticing Fibonacci extensions and retracements but as always, time will tell if this count has any merit.
I'm a relative novice when it comes to EW... can you explain why you chose the Mar 21 top instead of the Feb 25 top as the end of wave 3?
tomj2417
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@chinawildman, I'm strictly an amateur too. Just felt the count fitted better here. The fact that the wave (3) which topped in Feb was a perfect 1.618 extension of it's wave (1) and then retraced a perfect 38.2 retracement and all the other fib retracements and extensions lent weight to this count.