Boeing & Co. (BA): Extended 5th Caution!!

SUMMARY

Oof! Here is Boeing & Co. (BA) showing what looks to be a highly extended 5th wave!! Wave 5 is 2x longer than 3 and that's quite a bit!. Would buying or profit selling action be warranted here? The impulse motive seems complete, although there is a scenario for a one more higher high potential. If so, it only means that the extended 5th becomes more extended.

The subwaves thus far qualify the blue wave counts. The extended 5th wave is reaching high! The MACD is also overbought and might turn up for the red B wave but the C down has the potential to become scary. Remember that with extended 5ths, C waves can reach as deep as the prior wave 2!

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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