Things are starting to coalesce. We have to assume yesterday's breakout was wave iii of (c) due to the strong internals pointing toward a third wave event. Today's weakness and new high on diverging technicals supports that call.
I've settled in a wave squiggle count that has some nice FIB relationships in three areas that point toward 1056-1058 as the top of Minor 2. These wave relationships exist at Minute, Minuette and Subminuette level.
This is assuming today was not the peak. We'll give the bulls the benefit of the doubt. A breach of 1127.36 would be a violation of my count.
I really like this count, which probably means the market is set to reverse down and deny me my squiggle count. But as I said, unless 1127 is breached, we'll give the count the benefit of the doubt.