<center>![](https://steemitimages.com/DQmQK4McrgQrRtfJ1EqYHY2SKK4h43qbTeQrQY1uNdf5HrY/image.png)</center>
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**SUMMARY**

SONM (SNM/BTC) is shaping out a Cup & Handle consolidation pattern which had started back in October of 2017, so  yes, the pattern is quite lethargic in progress. However, the pattern seems near complete. The cup has been formed and the handle is in progress. The whole SNM chart starts with an ABC (red) correction as shown in below chart. The wxyxz triple combo labeling fits well into the scenario of an elongated handle formation.

![](https://steemitimages.com/DQmZzHgzg7GXvDQZan5kjfFmot2mv7RV6Xzqg5y6CDwYK54/image.png)

The blue impulse waves often compose the right wall of the cup pattern. The subwaves of wave Z is always an abc (red) and likely a zigzag (5,3,5). The volume also bowls in confirmation for the rounded bottom of price.
![](https://steemitimages.com/DQmYmGwKu87snPu1L7fVnQUoU4REqHv88CEfzd3x6yJhW8o/image.png)

Closeup shows the WXYXZ but the subwaves of the red C of the subwave ABC of Z. The blue impulse waves represent the subwaves of wave C in five.  So, 5  of C of Z is nearly complete and IF correct; a trend reversal point could be close at hand.
![](https://steemitimages.com/DQmah9cuy1gmLVD1MSnhABme3RRELQaPE9PSkwzkbwuGXkY/image.png)


**Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes. </center>


Please consider reviewing these Tutorials on:
[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
[Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves)
[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)
[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 
[Laddering Example with EOS](https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this)
[Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves)
[@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences)
[Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event)

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