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Thursday, July 24, 2014

Elliott Wave Update ~ 24 July 2014

Ok first off, its my birthday Saturday.  Looking forward to it!

<------ a="" already="" b="" become="" free="" if="" nbsp="" not="" your="">Club Elliott Wave
member by clicking my EWI links to the left. Any subsequent service you would then choose to subscribe to, I would get a modest commission paid by EWI. I have been an avid subscriber to Financial Forecast (monthly), The Socionomist (monthly) and Short Term Update (M-W-F) for many years.
Second, the meandering lazy summer waves just keep plowing on as suggested many weeks ago.
The best count would have wave (iv) closing a couple of gap ups before embarking on Minuette (v) of [v] of 5.

Wednesday, July 23, 2014

Elliott Wave Update ~ 23 July 2014

Updated charts. Adding more pieces to the puzzle.  Not sure if (iv) has completed or will take more time.

Tuesday, July 22, 2014

Elliott Wave Update ~ 22 July 2014

SPX weekly shows the primary count: Extended 5th of Internediate (C) of [Y]. Again, note the start of extended wave 5: 1560 SPX. After wave 5 completes, this is the downside target for a starting bear wave. Confidence is high for this count.
Wilshire shows nice form. Same count .
SPX hourly shows the best count for Minute [v] of 5:
 
And Wilshire shows potential Minuette (iv) still playing out.


Monday, July 21, 2014

Elliott Wave Update ~ 21 July 2014

The Wilshire 5000 shows the true count of the market. Since declaring the top of Minuette wave (iii) of Minute [v] of Minor 5 a few weeks back, we expected a corrective wave (iv) to meander about for quite some time. It has not disappointed.

Question is, is wave (iv) over or merely only half of the correction?
Still leaving room for more of a correction of wave (iv) of [v] of 5. Again, "look-wise" it makes perfect sense for the time to finish the final waves to play out through the end of summer. Its certainly not required but it won't be surprising if that's what it takes.

Another trendline hit for (iv)?
SPX probably has a slightly differing subwave count for Minute [v] but the gist is still the same.

Tuesday, July 15, 2014

Elliott Wave Update ~ 15 July 2014

Its has been proposed that the market is in wave (iv) of [v] of 5. The price action of the past many sessions still supports that view. Note how wave (ii) of [v] was a very complex correction. So there is reason to suspect that (iv) of [v] will be simpler which so far appears to be the case.
Here is a 5 minute chart in an attempt to chart the subwaves. So far the correction has been somewhat simple as compared to wave (ii) in chart above.