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Thursday, August 21, 2014

Elliott Wave Update ~ 21 August 2014

Best count is the market is seeking the top of wave iii of (v) of [v] of 5. We got a new high today in the SPX and the Wilshire5000 (same count as the SPX) was a mere 2 points shy of a new intraday high.
Squiggle count shows a possible subwave count for wave iii of (v) as it has extended a very nice Fibonacci 1.618 the length of wave i.  Regardless once more of the structure unfolds, we should be able to identify a projected wave iv pullback.

And then after wave iv is identified, the final squiggle wave v of (v) of [v] of 5 of (C) of [Y] of cycle b can counted toward its very end.  Labor Day-ish?

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