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Wednesday, March 16, 2016

Elliott Wave Update 16 March 2016

I guess the best count is that we are headed for the open gap down in an extended wave v of (c) of [ii] of 3 down. This makes sense because waves i and iii of (c) were about equal.
Another view. Nothing is easy in this market. Not quite 61.8% retrace of the total decline. But we have been predicting a sharp rally since identifying the low in February.
You can see the GDOW is also challenging its big gap down.

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