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Thursday, January 21, 2021

Elliott Wave Update ~ 21 January 2021

The rot of this fake market is almost over. There are a couple of variations on how to count it.

Probably the top version is this:

And thus on the hourly:
Daily:
The next best variation is that a small pop to 40,946 tomorrow finishes it off. Again, this is where a proposed wave (B) is exactly 1.5 times the price length of wave (A). Wave (C) would then be 5 Minor waves down to form wave (C) of a Primary wave [A] expanded flat. 

In other words, this top is "false" and it will soon end.
And thus the corresponding version of the hourly:
If this is an expanded flat, there will be no stopping wave (C). 
And of course the count below is shown as 5 waves which also works nice. Both counts may in fact be "correct". The outcome is the same regardless.

There is no doubt the market is struggling with the upper channel line and perhaps is "feeling" the 1.5 times expansion ratio shown on the previous chart above.
Even Apple's minimum price level has been met. New high today.

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