I think we’re finishing a 2, and we should head swiftly lower soon. Here is a count to account for this morning’s strength, pushing minute (blue) 2 to today’s high rather than yesterday’s. We can count the last high as part of a flat for subminuette (red) 4.
If minute (blue) 1 was a leading diagonal (as I think) then such a deep 2 is not entirely unexpected.
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