$FB Analysis Update, Count Upgrade

In my prior call on $FB made here, I stated that I believed it was entering a 4th minor wave correction, which should have been somewhat limited in scope. I suggested that afterwards, it should go on to make new highs.

The correction has become larger than expected, but we still do not have a 5-wave move to the upside, so I am going to upgrade the count degrees into a more bullish configuration. So, the new analysis is that this correction is a nested 1-2, and the upper targets posted should still be met, and likely significantly surpassed with time.

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[UPDATE]: Though we have rallied from the orange box in the direction of the target range above (green arrow), I have reconsidered the count and updated my call here. This call has been cancelled.

FB

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