P1 is probably the most perfect 5 wave Elliott structure of Intermediate size you'll ever see. It fits the theory completely not just in chart patterns but subwave internal technicals like breadth, volume, fear, divergence between (3) and (5)... etc.). To call this anything else than what it is beyond fathom to me.
Elliott waves always produces connecting patterns that fool the novice (and K is no novice). An Intermediate wave (4) flat? (EDIT: to be clear - Kenny doesn't see the (4) of P1 expanded flat but the possibility of a Primary [B] wave expanded flat - yet this post is also for all those who insist its (4) of P1. The main point of the chart is to show the P1 channel lines and in particular, the (4) triangle. So that still argues against the P[B] flat.)
Lets put it this way: No matter what happens from here, I would never call it a wave (4) of P1 flat. Highly unlikely. Nor a [B] wave flat for the same reasons. Backup count to the backup count? Maybe. But never the primary.
If your a member of EWI, you know what I am talking about and all the internal subwave technicals that were provided and sentiment charts, etc fit the theory perfectly.
EW theory is more than just imaginative chart patterns. That's where the novices go awry. They see ABC but don't pay attention to the nuts and bolts of true EW theory which is the heart of the matter.
P2 affected my brain in April when I insisted the market would get its 38% correction.
I of course had some SDS shoved up my ass. I made peace with p2 shortly after. Mostly I have tried to stay in tune (besides the early call for high 900's - but hey, I think I may get my target)and stay nimble an stay focused on the theory and not what I want it to happen.
Kenny come back to the dark side of tracking nasty Primary waves down. The BIG one is coming The expanded flat looks nice on a chart maybe, but lift up its skirt and you see it ain't all that. The internals don't match and I think you know it deep down maybe you forgot all the cool internal data EWI provides. Kenny, your certainly no novice. I have learned most of my T/A from you.
We can keep it as a backup count. That'll work for me. Just say that P2 has affected your thinking. It did mine. It affects all. That is the power of P2. I made peace with it.