S&P 500 ending wave 4

FX:SPX500   S&P 500 Index
158 8 6
S&P 500             ending wave 4, small wave 5 to come
So far so good, looks like the count is right, for the last week price bouncing up the trendline.
So far SP bouncing up my trendline and using it as support.
wave 4 cannot overlap wave 1. This count doesn't work.
TAS RobbMatthew
Wave 4 can overlap wave 1 on ending diagonals. And also, wave theory was developed in the 30's, where there was no 4H chart, so wave 4 cannot overlap wave 1 on the daily chart. we'll see in the next few weeks
The most important thing is to understand wave theory, not to follow it completly. It was never finished, Elliott died before that. So you need to adapt it as with your understanding of mass psychology, and that hasn't changed.
BZUN worked through some big selling the last 2 days. Might be of interest to you.
TAS Rob Wallace Williams
Hi Rob, I trade mostly Forex, sometimes Gold. DXI, Gold, and S&P help me get an overview on the Forex Market. Thanks for the recommendation.
I have almost no understanding of Elliot wave so will take your word for it. I am long CUDA (up coming earnings Oct. 11), AAOI, and BZUN. They should all benefit. Did well this week too.
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