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Friday, June 19, 2015

Elliott Wave Update ~ 19 June 2015

Added some small degree waves to show an ideal end pathing to the ending diagonal triangle pattern for Intermediate wave (5).

I favor a continue rise only because of the logic of ending diagonals. If the ending diagonal triangle had topped where ALT 5 is shown, then prices should have - in theory - collapsed well beneath the recent price pivots by now. But they haven't yet. So I can only assume the pattern has not yet ended.

But if it does end as suggested below, then the collapse in prices should be very rapid to below RED (4) - yes that far!
Yes the DJIA weekly count suggests a few more weeks of sloughing to a new ED top.
GDOW may have one more top. Who knows.
Every major index shows a potential rising bearish wedge over the entire 2015 time period.
It looks like a classic wedge pattern.

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