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Friday, February 27, 2015

Elliott Wave Update ~ 27 February 2015


Wednesday, February 25, 2015

Tuesday, February 24, 2015

Elliott Wave Update ~ 24 February 2015

After many weeks and months trying to find a decent count, I feel this one is rock solid. Its my best count by far that I can come up with and obeys the most Elliott Wave guidelines and rules.  I always liked to use the Wilshire 5000 for overall counts because I still think it gives the best wave counts.

I added some more subwave symbols. Also note where the "virgin" wave space blue box is located. Just where we'd expect it in the middle of the third wave.

Whats important is that this can help project our next major turn. And it appears that turn shouldn't be too far long off. RED (5) needs to finish out.
Now that we have a viable count, lets see where we might be at in the last Intermediate (5) subcount. Remember I know wave (5) looks "small" however look again at the chart above.  It is appropriately sized compared to its sister wave RED (1) at the beginning.

Bottom line it does not appear the last Intermediate wave (5) has yet completed so must again be patient.

Monday, February 23, 2015

Elliott Wave Update ~ 23 February 2015

I like this count a lot. Trying to make sense of the last several months. The good thing is that red (1) was not that big. Red (5) shouldn't be either.

A lot of nice symmetry here.

Thursday, February 19, 2015

Elliott Wave Update ~ 19 February 2015

Still stuck at the upper line.

Wednesday, February 18, 2015

Tuesday, February 17, 2015

Elliott Wave Update ~ 17 February 2015

Likely the market has been in an Intermediate-sized correction since early December.  Question is, has the correction finished and are we impulsing higher in an Intermediate-sized wave?

The SPX weekly shows are best options. There are other ways to count the subwaves for sure.

However the most important wave structure to stand out is this: Note that the low of 1820 to the peak at 2093 is a "three" pattern. That clued us in that the market was going higher I just didn't have a good clear count for that over the past many weeks. Probably why blogging counts has been at a minimum for quite a while.

Had to wait for the waves to work themselves out.  Perhaps they are now.
Here is a medium term picture of a possible wave [4] count. If the market breaks significantly higher, we could say red [5] - Intermediate-sized up from red [4] - is in progress.  Prices are at an important point here.
Wilshire channeling is instructive no matter the long term count.   The corrective of late has been well maintained within the smaller time and price GREEN channel. That indicates that it is likely an intermediate move.  A Primary-sized corrective would likely take the span of the BLACK channel and you can see the black channel (like its cousin the BLUE channel) is quite large in width in both time and/or price.

Its way too early for any kind of speculation on a primary sized correction. If the green channel broke under, then we could speculate.