Since we have had big moves I think it is time we discuss the primary forecast for the DOW.
Left Hand Count: This is a bullish count, where I am forecasting a correction that is currently unfolding before we go bull again. You never are certain of where you are in a cycle, so it is important to just take it one impulse at a time. This correction needs to consume just as much time if not more than it took for the impulse to unfold. Since in E.W. and common knowledge that corrections take much more time than impulse waves. Once I see a strong impulse followed by a correction I will be interested to buy.
Right Hand count: This is the bearish count, this count is technically advanced in Elliott Wave. It would forecast a primary wave 4 being a triangle pattern, and this current drop would be the start of sub wave C in the triangle. So the approach is if you see corrective moves to the upside rather than impulsive, catch the impulses downwards as they develop. I favor the bullish idea more, but bias is only an opinion.
Left Hand Count: This is a bullish count, where I am forecasting a correction that is currently unfolding before we go bull again. You never are certain of where you are in a cycle, so it is important to just take it one impulse at a time. This correction needs to consume just as much time if not more than it took for the impulse to unfold. Since in E.W. and common knowledge that corrections take much more time than impulse waves. Once I see a strong impulse followed by a correction I will be interested to buy.
Right Hand count: This is the bearish count, this count is technically advanced in Elliott Wave. It would forecast a primary wave 4 being a triangle pattern, and this current drop would be the start of sub wave C in the triangle. So the approach is if you see corrective moves to the upside rather than impulsive, catch the impulses downwards as they develop. I favor the bullish idea more, but bias is only an opinion.