HS pattern is part of the EW theory as well. I´ll find it reasonable easy as non-inverse it presents W5 top, while left shoulder is often W3.

Looks alike right shoulder was placed, this is actually where the more powerfull downroll should start progressing in dailychart picture. 147 $ was WTIC top, natural issue is that under 75 $ 50% made toproof for it. Should retrace at least 61.8% and chart definetely have daily impulse set as one can see, first corrective A is propably finished now, so it´s corrective B meaning C wave down should be accurate and we propably saw allready very first W1 of C allready. Getting better, corrective W2 as next and then something bigger should start coming down.

I do expect to see nasty C wave down and with that idea eurodollar definetely should not be bullish either or any another product actually (ie. SPX). Perhaps day or two consolidation ahead with that eurodollar from thursday plunge.

If I do remember correct at least Brad was the one who had a bullish count for oil/spx a few weeks ago, so some EW analyst there might disagree, but you might have more hard times ahead with that falling MACD. Overall it starts to seems for me, SPX 880 will be the next area and likely reversal from there ahead again, but this market is getting just deeper for B wave as correction mode. We might see SPX800 before autumn season comes.

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