The usual then, July 2013, and now charts;
For some inexplicable reason we were anticipating a high of about $35. This is neither the double-top level, or the point where c is equal to a of the B wave. The logical target would have been about $37.The actual top of the B-wave was at $37.70. Aside from that the pattern was correct all though , at the time, it would seem rather unreasonable to have expected this to take another two years and a month.
The drop does not look like much but it is almost 20%. Also it erased all the progress of the past two years in little over a month. The channel is broken and we think the trek down to below $10 has started. This was the best performing insurer so the others will , no doubt, follow suite. If you did nothing over the past two years, now is the time to sell. However , do not forget that this blog never, ever, gives investment advice, only discusses EW. Talk to your broker for that solid advice that you can lean on and trust! See detail below;