My last call on $ADBE was here. It’s largely worked out, i.e., we got a continuation of the correction followed by a rally towards my target above. However, I am cancelling the call to the actual target box itself because of many things I’m seeing here in the markets as a whole.
And, with this one in particular, strictly-speaking, all that was needed for a high to be put in place was breaking above the September high, which we have now done (green arrow). Given the risk that we’re at or nearing primary (pink) 5 by making that new high, along with the other signs I’ve been talking about lately, I see no advantage for calling for much higher prices on this. So, in this post, I only observe that a significant high may be in but I make no new targets. I will need to watch this in the short-term prior to making a specific call.
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