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Thursday, July 10, 2014

Elliott Wave Update ~ 10 July 2014

The notion that wave (iv) of [v] of 5 is playing out looks good. Agian, the total scale of time on this entire structure suggests that wave (iv) and (v) may take the rest of the summer to complete. This is not mandatory of course, but the chart suggests it may happen that way. So patience is required.
A closer look at the last Minute [v] wave in detail. Ideally the blue box "virgin wave space" should not be violated until the entire count is over.  A pullback to the previous subwave [4] of iv of (iii) - which is 1925 SPX - would be entirely appropriate.

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