The early morning structure looked like 5th wave in the morning but the retracement of initial impulsive wave retraced into the W1 territory and thus invalidating the count. I suppose we could call it a failed 5th wave but I think it'll be better to stick to 1105 as the orthodox top and treat the impulse today as an expanded flat, with B happening today at 1110. It seems like there is a lot of resistance in the area and given how far up the market has gone up in a matter of days, we'll see the pullback very soon. I sold my SSO hedge at a small profit at 1104 and staying leveraged short until the pullback. I am looking to make a small profit from that position or break even at the very least.
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