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Tuesday, December 12, 2017

Elliott Wave Update ~ 12 December 2017

Most overbought on the weekly since the 1990's.

Thursday, December 7, 2017

Elliott Wave Update ~ 7 December 2017

Based on the potential bearish wave structure, any gap up rally situation should be sold short. The wave count has wave [ii] finishing up and a powerful wave [iii] down to follow.

Wednesday, December 6, 2017

Elliott Wave Update ~ 6 December 2017

We've had an ideal impulse 5 wave pattern down.

Tuesday, December 5, 2017

Elliott Wave Update ~ 5 December 2017

We have a countable impulse wave down. Its been quite some time since we have seen such a nice Elliott wave 5 wave structure to the downside.
Last few days of trading have been different in both feel and volatility.


Thursday, November 30, 2017

Wednesday, November 29, 2017

Elliott Wave Update ~ 29 November 2017

Watching several trendlines on several charts. The Wilshire 5000 makes excellent trendlines and wave counting.

On a monthly scale, the market hasn't been this overbought in over 20 years.
Proportions between wave (1),(2) and (4),(5). We expect wave (3) to be the biggest as it is.
Weekly overbought and the overall count since March 2009.
Channel lines.  Weekly RSI lows support the idea of the Intermediate wave (5) subcount price points.
The daily RSI also helps identify likely wave counts which is why Minor 4 is marked where it is. Also note the potential for an upper channel strike at the end of year.

Also note that when overlaying a Fibonacci scale and placing the 50% Fib at the "third of a third" - wave [iii] of 3 - we have nice symmetry of the entire structure.
The final Minor wave 5 in close-up on the hourly scale.  Again, the waves count nicely.
And now the very short scale.

Conclusion: Should be an exciting final month of 2017 one way or another. We are running out of ways to count at multiple scales which indicates we may be nearing the final count top tick.

Tuesday, November 21, 2017

Thursday, November 16, 2017

Elliott Wave Update 16 November 2017

Things are getting exciting. This wave structure will resolve itself one way or another. This is the best count below.


Wednesday, November 15, 2017

Friday, November 10, 2017

Wednesday, November 8, 2017

Elliott Wave Update ~ 8 November 2017

Peak RSI at the strongest of wave (iii) of [iii] of 5 makes one suspect we haven't quite finished [v] of 5.

Tuesday, November 7, 2017

Monday, November 6, 2017

Elliott Wave Update ~ 6 November 2017

Revising the squiggles a bit

Wednesday, November 1, 2017

Elliott Wave Update ~ 1 November 2017

The counts look pretty good.

Thursday, October 26, 2017

Wednesday, October 25, 2017

Elliott Wave Update 25 October 2017

Objectively, we have only 3 small waves down so far from the recent high.  Tomorrow's opening would have to be bearish to complete a small 5 wave structure down. We'll just have to let things shake out one way or another over the next few days.
3 waves down so far. A five wave impulse move would help determine a change of trend.

Tuesday, October 24, 2017

Monday, October 23, 2017

Elliott Wave Update 23 October 2017

It has enough waves to count as complete.

Wednesday, October 18, 2017

Elliott Wave Update 18 October 2017

Updated squiggle count. ? @ Minute green [iv].