Schwab was highlighted in yesterday's Premium Update with some longer term charts. This is a shorter-term look that shows a Wave 4 complete, or almost complete, and a wave 5 to below 45 in progress. The longer term counts suggest SCHW doesn't stop going down until the 30's, so there is a lot of potential here. It will take a close below 50 to confirm the next leg down has started. SCHW 120 Minute SCHW Sell Pending On a close below $50 any day this week the PRO Service will be buying the SCHW June 16th $45P (1.90-2.00).
