The outlook from 3 days ago was very accurate, but there is a small update to the labeling. Price moved a dollar higher to finish wave 1 (of intermediate wave 3), but the short term correction is playing out as planned.
Here’s an updated near-term chart. From the top, I gave an expected target of $23 on the low end, to $26.80 on the high end. We’ve almost touched the 50% retracement. If wave 2 completes as a zig-zag, it’s likely that it will end toward the lower end of the target before a sustained move higher. Looking for a small up then down move over the next couple of days to finish this out.
Here’s the daily chart published on 9/13 for easy reference.
Happy Trading!