Bottom Line: Lower in three waves for wave 2
1/12/2026 16:29EST (Last Price 1.9):
The pullback from the wave 1 top did not reach the 61.8% retracement however, there seems to be evidence that wave 2 is completed such as the advance that we have seen so far.
We will continue to maintain a bullish outlook for now. The wave larger degree wave 1 unfolded as a leading diagonal and this is common in break outs. Ultimately, we want a challenge of the August wave 1 high.
