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Tuesday, June 30, 2015

Elliott Wave Update ~ 30 June 2015

Best guess count is that we are in a wave (ii) bounce. Squiggle count:

Thursday, June 25, 2015

Elliott Wave Update ~ 25 June 2015

I most often use the Wilshire 5000 for absolute wave counts because I feel it captures and traces social mood waves in the market better than any other index. A few days ago,  it peaked at an all-time high versus the other main indexes (S&P, DJIA) did not.

Thus the Wilshire fulfilled a potential Intermediate-sized ending diagonal triangle as shown below.
And since that recent peak, we have a pretty good impulse pattern lower which may indicate the trend has changed. We may get a bounce in a wave (ii).
We have been patiently tracing the waves for many, many months for the market to reveal its unfolding wave hand. At the moment the best overall wave count has been posted. The ending diagonal triangle is a topping pattern. Now a small wave impulse down has occurred. Has the market finally reached cycle wave b?  Thats the best call for what we have.

If it is an ending diagonal triangle then we expect prices to swiftly collapse back to where the final ED pattern started. As shown in the following chart, that point would be at least back to the black lower channel line for starters.

Tuesday, June 23, 2015

Elliott Wave Update ~ 23 June 2015

Again, our Ending Diagonal Triangle pattern has already made the required new high for wave 5.
A detailed look at Minor wave 5. Remember, and EDT pattern is not an impulse pattern. So Minor blue 5 would be counted [a][b][c] as labeled.

Monday, June 22, 2015

Elliott Wave Update ~ 22 June 2015

The Wilshire 5000 wave count made a new high today by 15 points which fulfills the minimum requirement of the ending diagonal triangle count.  There may be 1 more wave missing.