A lesson in Diagonals

Catching support (so far) from the 123.6% extension of (iii) in the blue diagonal count... that is the "normal" Fib for a (iii) in a diagonal, but the c =a inside the (iii) at the 138.2% extension and this micro 5 of c is pretty muted thus far and VXX is known to have more exaggerated 5ths... in both directions, but we also have the benefit of normal decay in our favor to get closer to 30-29.75. 

VXX - Primary Analysis - Jun-12 1032 AM (15 min)
VXX - Primary Analysis - Jun-12 1032 AM (15 min)
VXX - Primary Analysis - Jun-12 1035 AM (1 hour)
VXX - Primary Analysis - Jun-12 1035 AM (1 hour)
Zac Mannes is co-host of the service Stock Waves within the ElliottWaveTrader Trading Room that provides wave alerts and trade set-ups on individual stocks.