Ford UPDATE!

Ford is interesting,  I put up an elliot wave count a few weeks back.  And it looks like the resistance level I tossed up worked out pretty well. I have adjusted the graph a bit but just changed the Angle of the possible C wave.

Again I don't claim to know much about elliot wave so I am strictly experimenting on how it works.

here is the 12345 ABC count

This could be a text book 12345 with a ABC correction.
First note that the A wave was a 38.2% retracement almost exactly.  This gives the C wave of a potential of a 68.1% retracement but another 38.2% at the least.


Now to a close up. Here I will postulate that we are ending the B wave shortly and the C wave will occur.
Some indicators are starting to show bearish signs.

Before I look at other indicators, just note what happen a few days back, we GAP up and over the bollinger bands... which means it has a very low chance of staying above that band for much longer and the Gap should be filled at some point.

Looking at the MACD today, the histogram has now had a lower tick than yesterday.  It is still bullish until the crossover but the momentum is slowing down.

The Slow stoach is over bought, and momentum has changed as there is a cross over.  I will say that this indicator was very bullish  as it locked in the previous trend.  however, it can not stay over bought for ever.

And volume the past 4-5 days has been declining as well.  This could indicate weakening of the bull position.

Next lets look at the gap again.

I tossed on the retracement of the A wave to get an idea of where the B wave might end.  If the bollinger band holds, you could see the price pull below the 61.8% retracement which could become strong resistance.