Fake out or breakout?

- I'm sticking to my original idea that we will still see 8500-8700 before wave 5 begins.
- MA cross says we are going up
- MACD bearish
- RSI says we are going down
- First confirmation I am looking to see to confirm we will see lower lows before wave 5 is breaking below that black trend line Ive drawn
- If we do indeed continue to drop, target 8500 - 9000 for positions into ONT for wave 5