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Monday, October 14, 2019

Elliott Wave Update ~ 14 October 2019


Thursday, October 10, 2019

Elliott Wave Update ~ 10 October 2019

Like an 18th century sailing ship floating in calm waters that has no wind.   Prices are at the point of where they were back in January 2018. Back down to the lower support circle to form a wave 2? Otherwise prices have held support in a multi-month triangle action. If the triangle holds, there should be a breakout higher.

As concerning social mood, it seems very, very negative at the moment particularly with the Trump impeachment frenzy reaching a crescendo. This seems to support that the long sideways 18-19+ month social mood correction (negative) is nearing its end and a breakout higher would be in order.

I'm most definitely not ruling out a sharp, shot down toward the lower blue circle area for starters in a big head fake. The long, long, term support is the red channel that is shown.