I have 2 wave counts that seem possible to me with 1 being the 2013 high of 1200. One is wave 5 being the 5000k top, and also being 1.618 of the combined wave 1 & 3. The other is wave 3 being the 5000k top and we are currently in wave 4 retracement back to 1200. The reason I now think this is possible is because we bounced at 3000 of the old high which leads me to believe its giving us a clue to what it will do at the 1200 high of 2013.
The bounce at 3k to me is not wave 4 completing as some have suggested but a clue of what is to come at completion of the 4th bouncing at top of 1. It can be argued the top of 1 was 3000 and the top of 3 was 5000k but for me this is not the case because while I was wowed by the last run it was not the same wow I got when it went to 3000. Now combine the 3 and 5 into just a wave 3 with a 4.56 size wave of 1 & 3 and then the crowd stands wowed.
So all in all I see 2 possible wave counts but in both i believe 1200 old high will be retested because it never has been retested and the 3000 bounce was just informing us ahead of time what its doing. Going back to retest the old highs.I have also drawn a H & S fractal pattern of how it gets there.
I know Im posting a lot but my wife is upset with me Im analyzing this so much so had some spare time for my messed up head to think. Also if it plays out I can have some bragging rights that I am somewhat smart. If not then oh well I had fun for 2 hours and made up a good story.
The bounce at 3k to me is not wave 4 completing as some have suggested but a clue of what is to come at completion of the 4th bouncing at top of 1. It can be argued the top of 1 was 3000 and the top of 3 was 5000k but for me this is not the case because while I was wowed by the last run it was not the same wow I got when it went to 3000. Now combine the 3 and 5 into just a wave 3 with a 4.56 size wave of 1 & 3 and then the crowd stands wowed.
So all in all I see 2 possible wave counts but in both i believe 1200 old high will be retested because it never has been retested and the 3000 bounce was just informing us ahead of time what its doing. Going back to retest the old highs.I have also drawn a H & S fractal pattern of how it gets there.
I know Im posting a lot but my wife is upset with me Im analyzing this so much so had some spare time for my messed up head to think. Also if it plays out I can have some bragging rights that I am somewhat smart. If not then oh well I had fun for 2 hours and made up a good story.