Finally. The target (50% correction) was hit to the tick! But what does that mean now?

I am (short-term) bearish again until I see more signs of bullishness. So I think it is green wave 1 of purple wave 5.

Here is my (short-term) bearish view:

And my bullish alternate:

Why did I change my view to bearish again? Well, this move up did take a lot of time which is unusual for a solid impulse wave. But a huge flat correction (ABC) would explain this indecisive movement and overlapping perfectly.

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

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DISCLAIMER: This post / analysis serves general information purposes only. I am not a financial adviser. The material in this post does not constitute any trading advice of any kind. This is just the way I see the charts and what my trading ideas are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is entirely at your own risk. I am not responsible for any of your losses. By reading this post you acknowledge and agree that you will never hold me liable for any of your losses.

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