$JNK Count, Target

I posted a public count of $JNK on Twitter here. That bullish count yielded a further rally of nearly 5% in a matter of days.

Since then, we can now assess a larger structure.

The rally off the 5/19 low counts quite well as an impulse wave. The pullback from that high consists of three waves and has arrived at the 50% retracement level. All of this is consistent with a “1-2.” The target for wave 3 is the orange box above.


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