Decline to 19033 completed wave ((X)), and the Index has since resumed the rally in the form of a double correction (W)-(X)-(Y)-)-(X)-(Z) where wave (W) ended at 19843, wave (X) ended at 19468, wave (Y) ended at 20563, second wave (X) ended at 20318, and wave (Z) is currently in progress towards 20900.
Wave (Z) rally from 20318 ended the first leg at 20658 as wave ((w)). The Index is currently in wave ((x)) pullback deally towards 20402 - 20491 before the rally resumes. We do not like selling the proposed wave ((x)) pullback. As far as 20318 pivot holds in wave ((x)) pullback, expect buyers to come for 3 waves higher at minimum to correct the decline from 20658 per Elliott Wave hedging idea.
---------------------------------
Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Free 14 days trial: elliottwave-for.../amember/go.php?r=2670&...
Wave (Z) rally from 20318 ended the first leg at 20658 as wave ((w)). The Index is currently in wave ((x)) pullback deally towards 20402 - 20491 before the rally resumes. We do not like selling the proposed wave ((x)) pullback. As far as 20318 pivot holds in wave ((x)) pullback, expect buyers to come for 3 waves higher at minimum to correct the decline from 20658 per Elliott Wave hedging idea.
---------------------------------
Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Free 14 days trial: elliottwave-for.../amember/go.php?r=2670&...