Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a zigzag where wave (a) ended at 15.71, and wave (b) ended at 15.01. Wave (c) of ((w)) is expected to complete at 16.72 – 17.12 area, then it should pullback in wave ((x)) to correct the rally from 13.99 before turning higher again. We don’t like selling the proposed pullback, and expect continuation higher once wave ((x)) pullback is complete in 3, 7, or 11 swing as far as 13.99 pivot stays intact.
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