that looks like a very valid A wave of a corrective pattern but it could also need another leg up if the wave 4 would be drawn this way ... <img src=http://www.rayrohn.com/images/pcharts20/oex03.png> so if the POS trades above 425 then should be a wave 5 which could trade to 440 or less then a B down BTW ur wave 5 is a real possible count over mine