PCLN, RACE, SBUX updates 06/12

PCLN: continues to count best as in intermediate-iv of major 3 of Primary V. Also this stock, like many of the FAANGT group is pointing to only a few waves up before Cycle 1 ends… NASDAQ will follow suit… $1750-$1725 ideal target zone for iv, but can retrace more…



RACE: Both the weekly chart (counts well as 5-waves up from the (black) major-2 low using weekly reversal candles) and the monthly chart (tagged the 3.618x extension to the t) as having completed major 3. Major 4 ideally to $79-$71. Then major 5 back up to ideally ~$98.

race 2

monthly chartrace


SBUX; can either be counted as having completed intermediate-iii of major-3 of primary-V or all of major 3. Either way, price is now in ideal target zone for both counts, but no reversal in price yet. So far the 50d is acting as support. Price also bounced right of trendline support (not shown) that connects the March and May lows. This needs to hold to allow for renewed upside.

sbux 2

Major 3 count shown below