Here is the back link to my previous FB post. Never mind that I labeled the last one with the first wave down as A. A-B-C act just like 1-2-3 in terms of wave structure. This time I'm labeling them as 1-2-3 because I don't have enough data for a good model past that yet.
But I do see that FB tried to build an ending diagonal into wave 2 but it petered out mid channel. They usually throw over so this is a sign of significant weakness. It resulted in a failed 5th and that is weak too. There is another possible count which but I consider it so low in odds that I won't say more about it right now. In any case, the break down of the right side channel likely means that 5 of C of 2 is complete and that wave 3 down has actually begun. If this is correct then Monday should begin to show much stronger selling and perhaps even a gap down because this is now 3 of 1 of 3 or C. A move of any sort higher than $64 would negate this model but I just do not see it. Time will tell weather I was right about this or simply blind.
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