META Update: Wave ((1)) extending

Wave ((1)) of III is extending which isn't too surprising. As said before, this is a wave 3 and those typically extend and are the strongest waves within an impulsive count. We met some resistance around the 0.786 extension that a mentioned in a prior post. This to me is starting to look like an ED and should be concluding soon. When it does finally conclude it will be a strong and swift move to the downside to get the wave ((2)) kicked off. Anytime and ED ends it moves back towards the point of origination very quickly. It is a function of traders finally giving up on the current trend simultaneously which creates the strength usually seen.

MACD suggest this thing is running on fumes though and should reverse soon. It may end up hitting the 1.0 before reversing, but odds of it going past that fib extension are slim. Time will tell what META has in mind but if it follows Apple then it should reverse soon. Make sure to use stops to protect your assets. Good luck y'all!