$AMC Creepily Hitting My Targets, A Couple of Short-Term Projections

While the indexes are busy frustrating me, $AMC continues to respect my fib levels well. I was expecting a minute (blue) 4 to emerge, which should be followed by at least a nominal new high. We’ve come into the target range for that twice now, which is good, because wave fours often look like h’s. Here’s the picture if the count is right: we would expect some new high (I don’t have good target for that, and it can extend as far as it wants to) but that should be followed by a deeper pullback.

The alternative here is that my blue 3 is the blue 5 and the probability of that would increase if it found no support here.

AMC

 


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