I recently posted about Adobe here. In that post, I expected a strong decline soon, and while that hasn’t changed, I would like to write an update to account for the recent strength.
In that last post, I interpreted the structure is was lately in as a triangle (the green structure on the right), but the breakout suggests that it is a 3-wave structure for Pink B (instead of the 5-wave triangle). And the symmetry remains remarkable over the entire topping structure as a whole.
Like the breakdown at the end of Pink 4 in the spring of 2021 (the orange box on the left)—which was a shakeout prior to the next markup leading to the top—this structure has broken up (the orange box on the right)—which I believe is a shakeout prior to the next markdown I continue to expect.
Read more “A Quick Update on $ADBE”
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