As I explained in the last post I was looking for the trend line for turn point.

Now back to today. As the market went up I was looking for wave four. A flat spot on the chart. When that happened--I was able to create the upward trend angling support line.

So the market is cornered between support line and resistant line.

What I want to see now is the support horizontal line and angling up line be broken. Shown on chart. That is a confirmation the upward trendis over for now. It does not mean the market is certainly going down. Even tho my opinion is that. That opinion is just that too. Just an opinion. Market has to confirm everyones opinion or deny it.

Without that--the market could be easily come back an challenge the top. Forcing this trader to resituate the position. That is get out and look for another opportunity to go short---or long.

I expect the market to go down and looking for lines of support to be broken before establishing the -1-2- formation of wave labeling.