Intercontinental Hotels (IHG): A Correction Usually Surprises Almost Everyone!

SUMMARY

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A minor top is approaching Intercontinental Hotels (IHG) as can be seen in the below chart. The impulse sequence (white) is either already complete or is about to. However, these are subwaves only to a higher degree of trend as can be seen in the next chart.

The white impulse waves jive as the subwaves for blue 3. So blue 4 is likely in progress and it should move as an ABC sequence. It coudl reach as low as the 0.78 Fib level but can't overlap with the peak of blue 1. The upward pointing white wedge is very close to completion which should open the way for red A decline that'll surprise just about everyone.

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