Prices as measured by the ES E-Mini S&P500 futures on the hourly chart made a clear 2.618 extension today.
|ES - Hourly - 2.618 Extension|
This ups the odds in favor of the top at the high, but - as the saying goes - it's not over 'till it's over. The last hourly candle of the cash session is an outside reversal candle, up, but, so far in the after-hours, most of its gains have been given up. That being the case, the odds increase to 80% for a top, 20% for the impulse minute ((c)), up. Not impossible, but very hard to see at this point. Sometimes announcements are made the following day which can not be known as of today.
Obviously, this could be part of a third wave down (whether iii or c). The EWO is at a low. There continues to be no counting of upward waves until a higher high day is made.
Patience, flexibility and calm are needed as various nations try to pull the trade rug out from under each other. So silly.
Have a good start to your evening.