The drop yesterday was a surprise to me, but it changes nothing. There still should be one more higher high next week before the drop to 6800, and possibly the 6650's into the end of February, in an ABC move. As for the short term wave count, here's what I see below...
Basically the move down from the 7043 high was an ABC for a wave 4, and we should be in a wave 5 up now, which will subdivide into 5 smaller waves. We appear to have completed the wave 1 up of it yesterday into the close, and are in the wave 2 now. It leaves a wave 3,4, and 5 up into next week to complete a bigger wave 5, and once that is done we can get the ABC down to (hopefully) the 6650's into the end of February.
Zooming out a little to see the medium term we have everything on the downside finished up by early to mid-March, as after that we should see a massive non-stop rally start that will last several months. Below is that chart.
Have a great weekend.
