FX:SPX500   S&P 500 index of US listed shares
186 2 2
Chinese dragon has gone. The market is growing. The impression on the Chinese news began to wane. It was only a preparation. Its real character the Chinese dragon will show in autumn. In my previous publication we tried to describe the downward movement as a wave (C) of expanding triangle (4). I wanted to put it aside and take the description of wave (D) as a guide to action but the description of wave (C) has its disadvantages. We have already talked about it. Wave (C) dropped below the starting point of wave 5 (in a circle). It's impossible. I look at the reversal point of the market. In the market movement, starting on the 20th of January 2016 and market by me as wave 1, structure of the wave is visible clearly. Wave 1 is consists of five waves. Wave ii (in a circle) is a tapering triangle. Wave iv (in a circle) is an expanding triangle. The structure of wave V (in a circle) is visible clearly. It consists of five waves too. I have a question. Why don`t I see a similar wave 5 (in a circle) in our days? On this question there are two answers.......
I've posted a differing Elliot count that meets all rules...food for thought...
I know my counting is different. You can see details here: "Starting point 2.Who gave you the right to take decisions instead of the market?"http://www.stockmarkettoall.com/#!Starting-point-2Who-gave-you-the-right-to-take-decisions-instead-of-the-market/c95u/56229af10cf2c6c6437a091e
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