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Thursday, May 21, 2015

Elliott Wave Update ~ 21 May 2015

Wednesday, May 20, 2015

Elliott Wave Update ~ 20 May 2015

Things are getting interesting. The Wilshire count made a new high today finally fulfilling the minimum for our ending diagonal triangle count.
NYAD negative divergence still intact

Tuesday, May 19, 2015

Elliott Wave Update ~ 19 May 2015

The Wilshire count below came within 7 points of achieving a new intraday high. So based on the count, we must assume that the high will be achieved. An upper trendline hit would be perfect.
This is a pretty decent setup for a good short bet. Because if the Ending Diagonal triangle wedge count is correct, prices should collapse swiftly to beneath red Intermediate wave (4) start point pivot upon completion of the ending diagonal. The price pivot for red (4) is 19,160
Its official: a negative divergence situation on the NYSE advance/decline cumulative ratio line. That technical tidbit supports the ending diagonal triangle count.
US dollar. Nice spike upward.
Yes I do think all the lower channel trendlines will be smashed through eventually. 

Monday, May 18, 2015

Elliott Wave Update ~ 18 May 2015

My mother is recovering. Thanks for all the prayers!

Friday, May 15, 2015

Elliott Wave Update ~ 15 May 2015

A new high is required to complete this count
A prayer for my mother who is hospitalized with a bad sepsis infection (she is 79) and my oldest brother who was diagnosed with a bad cancer that has likely spread.

Wednesday, May 13, 2015

Elliott Wave Update ~ 13 May 2015

Triangles and ending diagonal triangles always try to hide their hands.  A careful count however can aid things.

Its still entirely possible the whole mess since last year counts as a massive ending diagonal triangle.  Ending triangles are labeled internally [a]-[b]-[c] - (using Minuette degree for my explanation because the chart below is labeled as Minuette degree for the internal structures).

Ending Diagonal Triangles represents the market's inability to continue producing clean 5 wave impulse patterns up.  The loss of momentum gets sluggish at the top is the theory. There is still overall five waves for the ending diagonal triangle however, waves 1,3, and 5 internally will be labeled 5-3-5, [a]-[b]-[c] zigzags. The correction waves 2 and 4 should also be labeled 5-3-5, [a]-[b]-[c] zizgags.

This chart below is labeled in accordance with the guidelines described above.
If the chart above is correct in its assumption, we have a pretty good idea that Minor (blue) wave 3 has topped. The remaining clues are to define the exact spot of Minor (blue) wave 4 low, Minor 4 may have already occurred however we have to allow more leeway.  Once we can nail wave 4, its merely a matter of counting the final [a]-[b]-[c] Minor 5 to the expected top of the pattern.

Overall the Wilshire might count like this:
We shall have an answer in the coming days and weeks ahead.