DAL, DIS update 5/4

DAL: despite all the horrible stories surrounding the airlines lately, DAL is moving higher. Our ideal count has price now in major 5, and may have topped for minor 3 of intermediate iii. If so then minor 4 should drop to ~$47.20 (the 0.618x extension) and minor 5 should rally  to $50-51. IF price drops below $45 then it’s most likely we only had an abc uo (corrective wave) with c=a and price will then likely drop to $32… For now we’ll keep the bullish perspective until proven otherwise.

dal

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DIS: now most likely in major 4. ideal price target zone for major 4 is $110-$106 and price today bounced off the 23.6% retrace, which is typical for a a-wave of a 4th wave. We’d expect a bounce, and then relapse to the 38.2% retrace, which is also typical for a 4th wave target. IF price drops below $105 (the major 1/a) top then the whole advance was most likely and abc up and price will then drop much lower longer term. The alternative is a an EDT formation. Regardless, uncertainties are growing at this stage and that’s why taking profits at the 3rd wave high is always prudent: leave the scraps and uncertainties for the rest.

DIS