DIS – Walt Disney Co.

Last Updated June 27, 2019

The wave count for (red) intermediate-v of (black) major-3 looks complete. There’s negative divergences across the board, and although divergence is only divergence until it isn’t, it must be noted and considered (in trading decisions). A move below the May low is still needed to confirm major-4 fully, but for now this looks as good as it gets. A break higher to new ATHs from current levels will of course mean wave-v is subsdividing.

Also the weekly chart sports negative divergences (dotted red arrows) and a potentially completed wave-3 of V. A retrace at this stage (wave-4) would be expected, normal and healthy. BUT, with this market one never knows… Regardless, caution is IMHO advisable.

Lastly, the monthly chart shows what to expect when major-5 of Primary-V of Cycle-3 ends: a big cycle-4 bringing price back to around $85… Yes, the music will stop at some point and I am not sure if sitting through a 45% hair cut, waiting for cycle 5 to around $180+ is the best strategy here…