Last months caution was warranted with the new high, which was followed by a new low!
This has done nothing to resolve the count and here I have the 2 alternative counts - the difference is the ideal weekly wave target was 1300.19, and ideal wave monthly target 1315.20....... and the high was 1303.76, closer to the weekly target but timing 2 months late, but not quiet the 1315.20 which was this months timing as well......... so the bulls and bears are giving nothing away other than we are going to retest last years low!
D-1 is expected to be made in the triangle shown.
In detail resistance starts at 1273.75, followed by 1298.02, 1311.04 and then the monthly target one month late of 1315.20. Quarterly resistance is the MF MLU and stands at 1373.14. Support starts at 1143.60, and you can see the gap in the pivotal support formed by this months low at 1199.80 down to 1142.97 (cyclical support 1143.60) and nearby 1132.08. That is then followed by another gap down to the MLL's starting at 1073.53.
I AM ASSUMING May HIGH WAS W-4 currently for the count. This was / is my initial count prior to the May high until prices show us otherwise.
June is going to be interesting as BREXIT is the last week! On the Weekly we should have a bounce this week to a high towards the end of the week / early next week of 1231.57 to make d-3. From there it looks like dropping into BREXIT to the 1140 area where we have a cluster of support to make D-1. For this week resistance starts at 1283.17, closely followed by 1295.62.
On the daily interval we can see the detailed deci waves -1 and -3. d-1-2-3ML and d0-1-2MLU give an ideal wave target of 6 June, 1231.57, before reverting to a BREXIT low in the mid 1140's to make D-1.