Custom Search

Friday, June 13, 2014

Elliott Wave Update ~ 13 June 2014

GDOW (and an example of an extended wave five although at a different degree).  And since the cycle wave a counts as 5 waves down, we shouldn't expect a new all-time high. That makes cycle wave b the middle wave in a 5-3-5 zigzag pattern down which would  comprise the whole of supercycle wave (a). So by rule a zigzag cannot have wave b higher than the start point or its not a zigzag. However the 5 waves down suggests it can only be a zigzag with 5 primary waves down for cycle wave c.  This would then match what we expect for cycle wave c for the US markets - a 5 primary wave down pattern.

By the way, wave [C] of b equals wave [A] of b at 2572. We are remarkably close to a 1:1 ratio. It makes a wonderful "three" pattern which implies corrective. Which of course implies its a bear wave rally. 

Those of you who doubt the patterns on the US markets should really take a hard look at the GDOW chart which produces excellent waves. And its riper for finishing up.
blog comments powered by Disqus