Feeder Cattle - In a running or expanded flat wave 4

22 Apr 2017

It has been a while since I last updated my count on Feeder Cattle. In my update from August 8 - 2016 I called for wave (A) to be in place at 134.25. The price-action that followed, doesn't really support wave (A) having completed and therefor, the preferred count has been changed, to this count, which shows that only wave 3 completed at 134.24 and the ongoing wave 4 is now in wave C higher of an running or expanded flat, towards at least 144.60 and likely higher to 151.00 in a running flat. If, however the top of wave A at 151.20 is taken out, the target should be closer to 160,50 in an expanded flat correction to complete wave C of 4 and setting the stage for the final impulsive decline in wave 5 of (A). But for now, we should keep our focus towards the upside for a test of resistance at 144.60.