There are two immediately obvious ways to count the advance off the crash lows on $CFG.
- The green count has us completing a 5-wave structure soon-ish, after which we would expect either: a bear market or a very large correction that would take us to the orange box, or
- The red count, which suggests that this is going to a hundred.
The problem with the green count is that major trend lines on this time frame don’t tend to break out, retest like this has, then break down soon afterwards. This is something I am seeing on a lot of things (you’ve seen me point it out on oil many times). Everyone is looking for a top soon, it’s possible that we don’t see one for years.