TLT: Preferred Elliott wave count has a bounce underway to ideally ~$122.50 before the next leg down occurs. This next leg down can either become a more complex 5-waves down structure following the red iii, iv, v target boxes (drop to iii, bounce to iv, then last drop to v) to complete major-c of Primary A at ideally $94-90. The alternate is that we’ll only see a c=a relationship targeting $106. I simple don’t know yet as the b/ii wave up hasn’t completed yet. We’ll need to see a break below $122 to know $106 is next at a minimum. Any move above $130 will mean my analyses and thoughts are wrong and we’ll have to adjust our line of thinking.
TLH: has a potential other option in that the move down is going to come earlier than expected as wave-2 of wave-c is underway. A break above $132 will take this option off the table and shifts perspective to the preferred EW count shown for TLT. A break below $124 before moving above that $132 level will mean the green count is underway and should ideally target $114-112.