DG: The preferred count continues to see an intermediate-v of major-5 underway with a minor-4 low, and now minor-5 underway. The alternate for this count is that all of (blue) Primary I already peaked and II is now underway to around $50 as that’s strong support and a 50% retrace. The monthly RSI5 peaked at the ATH, which often means that’s indeed a 3rd of a 3rd wave, and one can more likely than not expect higher prices (on waning momentum). A drop below $85 will be a serious first warning wave-II is underway and it will be confirmed on a drop below $80.
When we simple assess closing prices, to reduce noise, we can make the case for a major-3 top and major-4 underway. Major-4 will than retrace back to low- to mid-70s before major-5 kicks in. For now this is the alternate count.
Hence, the DG bulls have some work to do, but as long as it stays above $85 it should move higher.