Here's a possible count. The A of the larger ABC correction which is the 2 of the big cycle has a truncated 5. We're just starting the B of the 2 which could take us up towards 10k-11k which would be the 4 of the previous wave, then down for c (possibly truncated as well?) to finally finish the 2 correction, setting us up for a primary impulsive 3 wave to finish out the year.
It's a possibility in my opinion, previous support and resistance comes into play at these levels, fib levels correspond, but it's also possible that the 2 is a more complicated ABCDE or what not. It's also possible that the correction is in and we're beginning the impulsive 3 wave of the larger cycle. TA is not about predicting the future, it's about showing possible paths, seeing different possibilities allows you to better prepare for different outcomes.
It's a possibility in my opinion, previous support and resistance comes into play at these levels, fib levels correspond, but it's also possible that the 2 is a more complicated ABCDE or what not. It's also possible that the correction is in and we're beginning the impulsive 3 wave of the larger cycle. TA is not about predicting the future, it's about showing possible paths, seeing different possibilities allows you to better prepare for different outcomes.