A 1548.25 target has loomed for weeks, and although it is almost guaranteed to provide tradable stopping power, we should remain alert to the possibility of a sharp downturn from somewhere below it. I am recommending shorting 1548.25 via camouflage, which means you should be looking for a tradable abc downtrend from around the time that 1545.50 is reached. Alternatively, if you are not comfortable with the ‘camo’ technique, you can simply offer at 1548.25, stop 1549.25, but there will be increased risk of missing the trade.
I am aware of a couple of household-name gurus who are looking for a top around the same price, which will make a ‘camo’ entry strategy even more useful for us. More immediately, a ‘premature’ shorting opportunity could take shape if a pattern like the one shown occurs. Notice that although the point ‘B’ low is ‘sausage’, the impulse leg will have surpassed two other, distinctive prior lows. Incidentally, I have deliberately avoided drum-rolling this target publicly so that it might have a better chance of working.