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Thursday, November 10, 2016

Elliott Wave Update 10 November 2016

The only requirement for the primary count is that the Wilshire 5000 make a new all-time high. The DJIA has already done so. The chart below gives you an idea of the timeline relationships between waves. I would expect wave 5 to be the shortest time-wise.  We need to have some more patience.
This DJIA wedge pattern is curious.
3 month yields exploding out of the consolidation pattern suggesting of a rate hike next FED meeting.  Remember, the Fed follows the market not vice versa.
6 month count.  A higher high also out of a consolidation pattern.
NYA lagging and GDOW.
Dollar also heading up out of another consolidation pattern:
Gold's correction [B] wave likely needs more time and price before it is over. Hence the projected count.

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