Freddie Mac rallied much more than I expected. The structure of the waves indicates FRE is finishing wave 2. It could be a running flat, or a stonger bounce as a zigzag. The zigzag count shows a 30%+ retracement. The flat retraces even less. Regardless of the wave interpreted, there is an ending diagonal forming over the last 5 or so days. A sharp reversal is in order tomorrow or early next week.
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