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Thursday, January 14, 2016

Elliott Wave Update 14 January 2016

The Wilshire always produces the best channels and trendlines it seems which is why I use it. Best count has the market in a wave (iv) of [i] of 3 down.
Massive head and shoulders. And the Wilshire has not been able to maintain the neckline.
Another example of the superior trend and channel lines the Wilshire produces. can you imagine where prices would go if both the blue base channel and lower red channel line broke decisively? Market needs to work itself up to that over time.
Looking for 1 more low in Gold before a huge Intermediate sized countertrend rally up.
DJIA breaking down in non-log scale however log scale has held up so far.
GDOW. Probably the best overall wave count representing a worldwide social mood count.
Note the tight up channels are no longer intact.

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