27 Jan 2016 - Correction Extended?

This part of EW counting is the hardest due to the multiple possibilities of the sub-waves.  The 5min chart I provided on Monday is still in play but the variations of the coming price trends have multiplied as seen on the updated 5min chart below.  If the sub-waves are done we should make an impulsive move lower and break the last low (marked in red dotted trendline).  If however, we are still subdividing, we should see price rise into the resistance we noted on our 60min chart.  Since A=C is common, it is not guaranteed to always happen, but having this option, we can anticipate where the C-wave should start to the upside (seen on the 60min chart).

Plan accordingly, and be aware of the options available to you.

SEN: Bearish
ST: UP
PA: NA