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Tuesday, February 24, 2015

Elliott Wave Update ~ 24 February 2015

After many weeks and months trying to find a decent count, I feel this one is rock solid. Its my best count by far that I can come up with and obeys the most Elliott Wave guidelines and rules.  I always liked to use the Wilshire 5000 for overall counts because I still think it gives the best wave counts.

I added some more subwave symbols. Also note where the "virgin" wave space blue box is located. Just where we'd expect it in the middle of the third wave.

Whats important is that this can help project our next major turn. And it appears that turn shouldn't be too far long off. RED (5) needs to finish out.
Now that we have a viable count, lets see where we might be at in the last Intermediate (5) subcount. Remember I know wave (5) looks "small" however look again at the chart above.  It is appropriately sized compared to its sister wave RED (1) at the beginning.

Bottom line it does not appear the last Intermediate wave (5) has yet completed so must again be patient.

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