My last post on $FB was here. If that long-term view is correct, then this local count below may also now be in play here. Below the little orange box we’re in now calls this into question. But, if there is support in this range, it may be about to embark on a 3rd wave to the upside that could carry it to around $250 (or higher).
I will grant that this seems unlikely given the look and feel of the market today, but if this is the bottom of a wave 2, it’s the wave that no one wants to buy (because of fear in the market) and so I count that in favor of this count.
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