Strategy Notes May 22nd 2018

I was thinking as I started my journey into dreamland last night that we've been in the weeds, and I've been counting weeds. 

While we have had many attempts at impulses off the correction that started recently in May, all have failed (except ZEC). And, the issue with that is if you are looking at a 15m chart things look bad. 

But the fact remains, as measured by Elliott Wave, this correction is a very shallow and so far any bullish case that can be made from April lows is fully intact for the next degree targets I've layed out. 

With that, I"m pulling out of the weeds this morning and going to look at those charts, where support is off the April lows, and what resistance may get us going. You've all seen these charts but it is very easy to forget where we really are.  I'll go back to micro counting when we have an impulse. But let's take a step back this morning. 

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.