We may have bottomed at 57k with a strong bounce. But we are now retracing and hopefully almost done. EW theory shows a 5-wave bounce with 3 wave retrace.
Making progress towards our target: (shaded area is since this idea was posted)
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Zoom in (m5) Currently trapped between the proverbial "Rock and a Hard Place".
The red fib at 61,770 (red arrow) is from the wave down from the top:
And the green arrow is for a Genesis fib at 61,256;
The Genesis fib blue) should be much stronger, but it has been pierced too many times now, so the TopDown fib (red) can actually compete.
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SUMMARY: - Bulls are clinging to a strong but tired support. - Minor ratio of the TopDown fib can fight support. - Next break of Genesis fib at 61,256 might do it.
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