The usual then – Sept. 13, 2013 – and now charts;
So far, so good. The a and b waves of the triangle are, at least to date, clear 3-wave structures as is required within a triangle. There is the not so minor problem of a slight overlap of waves 2 and 4. Despite rules to the contrary I have found that to be not all that unusual. One thing to watch out for is if this ( b ) leg simple continues down, straight to the trend line. Provided it does so in 5-waves that could end this entire drop from the $53 highs. For the moment we will stick with our $18 target.