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Friday, February 19, 2021

Elliott Wave Update ~ 19 February 2021

Cross-currents going on here. 

Bullish count:

If we get the typical futures up Monday open then its possible to break back above. There has been no major pivots lost therefore we respect the count to higher highs.

Bearish Count:
Changed up the squiggles to a leading diagonal expanding triangle count. The entire structure looks great, the rebound looks correct....lets see what Monday brings!
Decent upside internals for the NYSE...again, we await Monday...
Weekly, we are getting close if not there already.
Bond yields just surging. Again, not good for stocks in the long run. I have no solid count really, just kinda making things up as we go. The main point is that the trendline is up and its intact.

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