The rally from the lows in Oct 2016 counts well enough as an impulse wave (5 waves). Furthermore, when we look at the move in context to the move that started from the Feb 2016 lows, we can also count this recent 5 wave rally as a C wave of a flat pattern.

Short term above 107.75 keeps the market bid, but as its now met price and time, anyone bullish should now be a little cautious in case this is close to completion, although earnings are out in a week or so, thats always an outlier, but still a strong reversal back under 101.75 could be suggesting some weakness.

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