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Wednesday, January 11, 2017

Elliott Wave Update 11 January 2017

On the daily chart we have peak RSI so far at where we have (iii) of [iii] of 3 labeled. This often is the case in any impulse 5 wave structure of this time frame.

So, we need patience for the rest of the waves to unfold to wave 5 of (5) peak. How much time is needed? Well, it has to "look right". We have a Fibonacci 8 years coming up in early March since the 2009 low. So that is a good place to start.

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