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Tuesday, November 3, 2015

Elliott Wave Update ~ 3 November 2015

The only requirement for wave 2 is that it does not make a new high.  I use the Wilshire 5000 for my primary counts. If the SPX or DJIA or both hit new highs and the Wilshire does not, then the Wilshire count would still take precedent in my opinion because it produces superior channel, trendline and wave formations.

The green vertical bars is where proposed wave [c] = wave [a] in price length. That would be less than peak and meet a wave 2 rule.

As far back as 8 October it was hinted where wave 2 would retrace and it would be likely deep. It was even suggested a time frame.

Did you think the greatest financially engineered rally would end on a whimper? I'll stick with a wave 2 count until it proves itself different.
6 month yield count.  And yes, the 3 month yield (key to whether FED raises rates or not in my opinion) would likely be dragged higher as a result.
Current 3 month yield. Not enough for a rate raise at this time. But on the upswing also.
Global Dow shows the real world picture: Not quite as robust as US markets. Keep your eye on the ball.

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