Dueling impulse legs on the chart shown argue against assuming that the ABC rally is destined to reach its target. Destiny aside, if you’re looking for the next northbound opportunity, I’d suggest zooming down to the 5-minute chart and finding it within the slo-mo rally begun from Sunday night’s 1576.00 low. There are of course no true ‘external’ peaks along this slog, but there are quite a few ‘pseudo’ ones that could be used to improvise your way around the rules.
