In Elliott, analysts will sometimes refer to ‘the look’ of a pattern.  Look at the rectangled area on the chart.  Doesn’t it ‘look’ like one more rally would complete 5 waves (and a larger 3rd)?  Notice how the action before is a choppy mess.  It is clearly corrective, perhaps a triangle.  We know that triangles precede terminal moves but this move may not be over yet.  v of 3 and then 4 and 5 would complete the pattern if this count is correct, which could take a few weeks.  There is so much bigger picture bearish evidence right now (COT and last week’s candle for example), that I am truly scared to go long but this short term pattern at least enables those that do go long to control risk and gun for a potentially significant profit.  I am off to see Springstein (Boss!!) at Giants Stadium.