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Wednesday, January 17, 2018

Elliott Wave Update ~ 17 January 2018

This is the best count for now. Note how each successive corrective since the early 2016 low of (4) is getting shorter in both price dip and duration. It seems to be going exponential and that cannot last forever.

We have seen these kinds of rises where they just curve upwards and then pop. But there is no telling how exactly high it may go.
My guess is that prices seem to be heading to the upper channel line as there is nothing now to contain them.  Such as the one below. If it gets there and fast (relatively speaking), all remaining straggling short positions will be utterly crushed. And if it gets there on a near continuous rise, a lot of people will be anxious that they need to get on board and go long because there ain't any dips to be had. Of course they may be buying the top.

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