Notice the wave from 10am to 11;30 forms in a 5 wave set with wave 4 overlapping wave 1
Under Elliott rules, this is considered a failure wave indicating a change of direction as you can see from the folow up decline.
Also note the OBV is in a steady declining phase from the open with only a minor bounce at 10;30.
Macd also topped at 10;30
Ult osc topped at 11am
Jay
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