Friday April 14, 2017
I made the chart as large as possible to emphasize the wave count. Five waves down are complete as of February last year. Now a counter trend Wave A
is completing. Note it has not exceeded the previous fourth wave high recorded in mid 2015. The most likely direction now is DOWN. Also note the weakness of the CCI at bottom.
This same pattern is evident in stocks like Anadarko and Apache both of which turned down this week.