Chart of the Day: Einsteinium (EMC2/USD)

When a chart tops at the 138.2 in a third wave, the 78.6 extension is the perfect resting spot for the subsequent wave 4. That is precisely what we have in EMC2. Further, we have a strong reaction off that low that may be considered five waves. I say maybe because there is a lot of slippage showing in the data so it's a bit too messy to be sure. I consider the larger count for EMC2 a diagonal, based on previous subwave structure, which is why I am looking for an A and B in V versus the usual five wave structure. The ideal target for a fifth off the 78.6 is the 176.4-178.6 region in the $8.00's.

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