SUMMARY
DISH Networks (DISH) has now put in two rounds of five wave impulse up and corrections. The first (white) resulted in a vertical move that corrected in a very nice ABC retracement. The second round (blue) climbe to a new all time high and the correction is currently ensuing. Is the correction complete?
The ABC of the second correction is labeled in the below chart. Note the lower low for the C compared to A as denoted by the white line. Now look at the MACD, it's at an oversold state (blue circle). The MACD is making a higher low. This kind low sequence is bullish, overall. The white arrow is projecting higher highs. The nested 1,2 and i, ii reflects that the first impulse up (white) and correction are wave 1 and 2; the second impulse and correction are i,ii subwaves of the upcoming wave three. When you see a nested scheme; it's bullish in the original direction.
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