"SELL IN MAY...?" tgt 33k..?TL;DR: 32k --> 20k...?
Here's my current EW count and HTF thesis. If my count is accurate, I think we can squeeze 33k out of wave 5. This will also satisfy the Wyckovians among us but we will not make the D1 gap around 35k.
After 33k, I think there is a good chance we can begin dropping back to 20k, where we just made a new D1 gap on the way up. 19k is also the VPOC for this range, so 20k with wicks to 19k seems reasonable to fill the gap and consolidate from this run.
The Inverse scallop we made in the low 20's has been satisfied by the recent high at 31k.