The first 4th wave of previous degree is at $50, the next one at $52 and equality between the two corrective legs in this bounce occurs at a little under $54. We are out already preferring to watch this exuberance from the sidelines, but would definitely get out at $54 if we were not already. One can only wonder who the sellers were at $44 and wonder even more knowing that they may well be the same persons that are now buying.
Manulife has been the worst performer for most of last year, except for the last leg down. Sun drops below the channel line and Manu cannot even get there. For this reason I think the orthodox low for Sun was not the early December low but the late December low. The leg down during that month is a 5-wave move. Consequently it can be argued that Sun only just started its correction and should have more to go. $22 is quite possible and perhaps even $25 even if I would not hold out for that.
This three month old story keeps on tracking. Today we are dead smack on the trend-line of the triangle, perhaps completing wave e. e can continue to about $17.30 before the structure is negated. Soon we should know if this is a triangle, if it is a 4th wave or a B and where to buy. Interestingly GS has the very same pattern except that the lower trend-line is pretty well horizontal. See previous blogs.