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Thursday, November 19, 2009

Elliott Wave Update ~ 19 Nov

I labeled the 1113 high the top of an A wave of (Z) of P[2]. So far the move down from the high works well as a "three". If another new low comes into play tomorrow, it could be labeled 5 waves down. But for now, we'll treat it as a three or the [a] wave of B.

So in theory if this count is correct, then the Minor B wave should be some form of a "three" either a flat or zizgag. It could also form a triangle.

If the first leg of Minor B is a "three", that implies a 3-3-5 flat or expanded flat or a possible triangle of some kind.

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