Looking For Strong Upside Reversal

Here are a few more color commentary points from the peanut gallery.  :)

The 5 min MACD is trying to curl up already.  Seems a bit early to me.  So, just stay on your toes, as once this downside completes, assuming this is indeed an ending diagonal for this 5th wave, we should see a very strong reversal which can take us back towards the ellipse overhead.  Remember, when an ending diagonal completes, it often goes back towards the region from which it began. 

Avi Gilburt is founder of ElliottWaveTrader.net.