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Wednesday, December 16, 2020

Elliott Wave Update ~ 16 December 2020

A new all-time high today in the Wilshire 5000.  We have enough waves to consider the count over, however we may just be labeling things too early.

Or we can have a few more squiggles as suggested in the next chart.
The major deviation is that only Minute [iii] of 5 is playing out and that the count will extend into January 2021. In this scenario, a sharp pullback to shake out the excess bullishness will result in wave [iv] of 5 and then [v] of 5 will take us up again. Likely until Inauguration Day on the 20th of January, 2021.
January 2021 would give Apple time to fulfill its own Elliott Wave count.  In that regard, if Apple requires a new all-time high (which the waves suggest it does), therefore the total Wilshire count is likely to top out in January 2021.

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