Literally a nose to supersede three important wave highs: 2080, 2104, 2116, labeled on the chart as a,b,c. Distance is less than a nose: .015, .026, .o32. When the last of these is taken out the entire structure of the market will be changed — actually in quite a dramatic fashion. The downtrend that started in November will be canceled and we should be looking at the beginning of a new upwave — probably of some consequence.
In fact the PnF system looks for a target of 2189.
As if didn’t look like spring, note the volume on Friday on the first chart. Now is the winter of our discontent made glorious summer…
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In the interests of trying to keep things simple at a time when charts are hard to read… wondering if you see what I see which is an incipient inverted head & shoulders formation in SLV? (from July 2015)