Custom Search

Monday, December 27, 2010

Elliott Wave Update ~ 27 December [Update 6:18PM]

[Update 6:18PM: Wilshire squiggle count. As you can see, its doesn't look quite done yet. Wave iii extended a Fibonacci 1.38 exactly of wave i. ]
[Update 5:45PM: Oil's weekly]
[Update 5:33PM: The DJIA definitely has a different count than the SPX. Here is one such interpretation.]
ORIGINAL POST
Primary count is that the market has nearly finished all subwaves of an Intermediate-sized 5 wave move from the July 2010 lows.

If tomorrow is a gap up to new high, it is one high I would expect to short with extreme prejudice. The wave patterns are fairly straightforward. Will it work? Nothing is guaranteed in the wave business but even so, your probabilities are pretty decent here.


Here are the 5 waves from the July low:
 And a look at Minor 5
And yet an even closer look at Minute [v] of Minor 5:
blog comments powered by Disqus