AMZN: Reached our ideal price target zone for major b, 38.2-61.8% retrace of major a, but no signs of a reversal yet, so may still go higher. Alternative count is that major 1 of Primary IV is underway.
DAL: Reached a bit above the ideal target zone and went to the 76.4% retrace instead. This is a nice example of why we call it an ideal target zone, as it’s not set in stone, but often where most retrace tops occur. However, the 76.4% retrace is also very common. Hence, why -if one so desires- should not just start arbitrarily shorting things once target zones are reached, but wait for the turn to happen: be on the right side of the trade instead of trying to nail the top and bottom; you can’t… Cont’d below.
If Primary B topped and primary C is underway, then the -rather common- C=1.618x A relationship targets almost exactly the 50% retrace at $28ish.