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Thursday, October 9, 2014

Elliott Wave Update ~ 9 October 2014

Today's selling was the most intense of the decline since peak so far. So we'll label today's move as kickoff wave for Minute [iii] down.  We may need to see more wave structure to get a better handle on where the count exactly is. However as was mentioned last night, The next wave down is Minute [iii] and its supposed to be more intense.
The DJIA is definitely concerned with losing the lower trendline. I was watching this all day.  I imagine if it breaks, that should unleash a large wave of selling. And if so, that selling just might be a :"third of a third" wave down would be a guess. We'll see. Technically, it closed under if you zoom in.
Wilshire weekly. At horizontal support.
Nikkei looks ripe for more decline.
Bond count still on target.
Oil breaking down.
Theres no better chart that represents the A-B-C nature of the rise since 2009 than the GDOW chart. Clearly 3 wave structure.

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