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Friday, August 29, 2014

Elliott Wave Update ~ 29 August 2014

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Based on Fibonacci wave relationships the "top" of cycle wave b projects to 2014 - 2034 SPX.

Squiggle count:

Thursday, August 28, 2014

Elliott Wave Update ~ 28 August 2014

The squiggle count continues..

Wednesday, August 27, 2014

Elliott Wave Update ~ 27 August 2014

The primary count now has us in wave iv of (v) of [v] of 5.  Wave iv would look better if it pulled back a little more to perhaps close the recent gap up that exists at the previous subwave [4] price range.
The SPX hourly shows where upper support is. The nearest support is in the 1983-1985 range. A wave iv low in that price area would make a really nice wave structure. Then wave v would push above the previous high and finish cycle wave b from the 2009 low.

Tuesday, August 26, 2014

Elliott Wave Update ~ 26 August 2014

The squiggle count looks pretty good for wave structure and form.  A good symmetry exists. Top of wave iii?  Wave iv would probably fill the last two open up gaps of the past few days.

Monday, August 25, 2014

Elliott Wave Update ~ 25 August 2014

Top of wave iii of (v) of [v] of 5 today?
Breadth Thrust indicator never actually crossed the .615 threshold yet. And now there is a bit of negative divergence.

Friday, August 22, 2014

Elliott Wave Update ~ 22 August 2014

Still trying to confirm if the peak of wave iii of (v) of [v] has occurred yet. I imagine if Monday is another day of weakness, then we can say probably yes.  But if Monday pops to a new SPX high right out of the gate, then perhaps the final squiggles of wave iii are still playing out.

Thursday, August 21, 2014

Elliott Wave Update ~ 21 August 2014

Best count is the market is seeking the top of wave iii of (v) of [v] of 5. We got a new high today in the SPX and the Wilshire5000 (same count as the SPX) was a mere 2 points shy of a new intraday high.
Squiggle count shows a possible subwave count for wave iii of (v) as it has extended a very nice Fibonacci 1.618 the length of wave i.  Regardless once more of the structure unfolds, we should be able to identify a projected wave iv pullback.

And then after wave iv is identified, the final squiggle wave v of (v) of [v] of 5 of (C) of [Y] of cycle b can counted toward its very end.  Labor Day-ish?