Current situation - potential Expanding Ending Diagonal:
.... we are waiting for the #Asian answer.
Buena suerte!
piter
⋅
It's working!
mikeoakster
⋅
How do you count wave (1)? It would seem more accurate to me if wave 1 would be at the high of April 2010.
And instead of (1)-(2)-(3), it could be A-B-C, completing wave D of an expanding triangle that would have started in March 2000.
That would mean we are at wave E, which would take S&P 500 below 666,79 (500 would be a probable rounded number).
So:
- If we are on wave 4, probable targets could be 1820 for wave A and 1580 for wave C.
- If we are on wave E, probable targets could be 1735 for wave 1 of A, I'd say by November, touching the major support TL.
hehe
⋅
This is a long-standing dispute over this wave 1., you can choose:
or
For me the most important is the current direction / south /.
The basis for Elliott Wave Principle is that each wave seeks to build a impulse. And this is my main rule.
hehe
⋅
... and how it will be symmetrical triangle? / as wave 4./.
mikeoakster
⋅
Pointing wave A of 4 also to 1735, the zig-zag for wave 4 could be like this:
- A @ 1735.
- B @ 1980.
- C @ 1580.
This idea makes sense to me, considering the respective confluences. Of course that, at this stage, we can't have more than ideas, so let's see how fractal waves are going to end, so that then we can project targets with some level of precision.
mikeoakster
⋅
An alternative could be wave 4 ending at 1735, at the base of the (1)-(3) to (2)-(4) channel. In that case:
- A @ 1820.
- B @ 2049.
- C @ 1735.
deltafox
⋅
Bounce, potential retest/lower high and fail...falling into October to test Oct '14 lows.
hehe
⋅
...for me - date of death is September 24-30.
Trance-Man
⋅
LOL, crazy markets! Thanks for the wishes, thanks for the chart, hope you have a very pleasant weekend. Appreciate the thoughts.
.... we are waiting for the #Asian answer.
Buena suerte!