CIT, ULTA updates 09/19

CIT:  Counts best as having completed 5 waves up off its February-2016 low. There are five (green) minor waves down to complete (red) intermediate-a. Price is now in intermediate-b, which has already reached the ideal target box for a b-wave (38.2-76.4% retrace of prior a-wave).  Note how well the major-3 and major-5 waves hit their ideal Fib-extension targets. That’s why I use them. Depending on where intermediate-b tops (confirmed with a break below the intermediate-a low), and depending on the c-wave extension I expect major-a to $41.5-35.5. It’s quite the range, but since I have no signal yet that intermediate-b has topped or any c-wave subdivisions I can only estimate for now.



ULTA: Its monthly chart counts best as having completed all of Cycle-1. Not shown here, but the daily chart has money flowing back into the stock and we may see a bounce to the (now decreasing) 200d SMA: $269. That would then complete major-a and b of Primary A.