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Friday, December 4, 2020

Elliott Wave Update ~ 4 December 2020

 This count that I have been consistently showing seems to be the one panning out. Yesterday it was shown as a series of ones and twos from the proposed wave [iv] triangle and today would have likely been the 'third of third' of Minute wave [v] itself.  If that's the case, the we are looking for the top of iii of (iii) of [v] and then the top of (iii) itself. So a few more stairsteps may do the trick.

The blue space is the proposed "virgin space" of wave [v] of 5.  

Zooming out, it would look like about this which is a pretty good look.

The most bearish count would be the wedge has finished and Monday would have to collapse immediately. It doesn't quite look right though and the internals are quite bullish still. But, its illustrative that there are enough waves in place to consider things complete.
It would however match up exactly with the Industrials which is sporting an odd pattern.  Yet a rising potentially bearish wedge nonetheless.

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