The current move is a suspected 4th wave, it could potentially be complete, if it remains below $21.50 then i would favor the idea of more downside, so its currently in wave 2 of wave [5]. There is a slight chance it sees a bit more upside above $21.50 to around the $22.00, but i would still suspect its in wave [4] and further delaying the expected move lower for wave [5] towards $15.00.


Once we see a completed 5 wave move that started from the Sept 2013 highs, we can then look for a much larger rally higher, but for now the focus is still on more downside and target the $15.00 area for wave [5].