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Thursday, November 17, 2016

Elliott Wave Update 17 November 2016

We have reached a minimum wave level in both the squiggle count and longer term counts. However per yesterday's discussion , we'll see if the market needs way more time which is where I am leaning.  The top alt count is that merely wave [i] of 5 of (5) is peaking and we have much more time to slog through (perhaps until the Presidential inauguration or after).

But the sentiment discussion yesterday in other markets gives us pause.  We'll just keep making squiggles and wait for something definitive.

The bottom line is that the primary count has us forming a major all-time high and it will likely need time to work itself out.
New all-time high in the Wilshire as predicted.

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