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The Overnite YM

 

The YM bears a close watch right now. It appears that the [a] and [b] waves of ii are in place.

Right now on the hourly chart , we are at the 38% retracement level and the hourly 55, which I mentioned yesterday as a possible area to look for as the end of wave ii.  My 15 minute charts counts out as 5 waves at this level. 

However, in measuring the relationship between [a] and [c], [c] is only at the 61.8% relationship. I you look at the above chart, [c] equals [a] at the 50% retracement and 127% at the 61.8% retracement level.   The Dyna Range has printed targets near those levels as well.

Just be cautious, we could turn pretty fast here or just take a breather before the open and then push up higher to the levels I have highlighted.

Looking at the above chart, we are showing sell signals on this last candle, on the Holy Grail, CCI SBD, MMG is flashing a sell and TEMA is turning down with cherries.

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