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Wednesday, December 16, 2009

Elliott Wave Update ~ 16 December

More wave evidence every day. I know I have been showing a lot of possibilities of the short term squiggles because the daily evidence changes the short term every day. There is a lot of "pushing" going on in prices and I think its valuable to pay attention to the waves in that they are overlapping every day now. Gaps up and then closing. Its all very creaky.

But overall the idea of a final intermediate zigzag is pretty solid. Yes each index has slight variations on how that zigzag is playing out but all in all, its a zigzag on each index.

So my 3 charts post this ABC (in blue) zigzag playing out at differing levels and on differing indexes. Whats not important is that every squiggle is in the right spot for every index. what does matter is what prices and the wave structure seems to be telling us.

The main thing is to keep an eye on trendlines I think they will start to come into play on the short, medium and long term scales.

So I provided a few count interpretation for your pleasure. I am not honing in on any one count I am being flexible at this stage. There are lots of good counts and trendlines going on.

I'll likely post some more got to run and eat...
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