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, wave (b) ended at 15.01, and wave (c) of ((w)) ended at 16.87. Wave ((x)) pullback is in progress to correct the rally from 13.99 with a possible target of 14.82 – 15.06 area before the rally resumes. 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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