W - 1 is underway now and looking for a bottom of W - 1 shortly for a bounce to complete W - 2, a lot of people get caught out on W - 2 because they feel the bounce is bullish and will reverse the trend....do not fall for this. Only when there is a clear break out above and when the resistance line then flips to support, do we accept that a trend has changed, until then, do not get suckered into any buys.