NeoWave theory was developed by author and financial analyst Glenn Neely. It's an expansion of R.N. Elliott's ideas and concepts, with its own technique to analyze waves, aiming to reduce the subjectivity and perceived contradictions of the traditional Elliott Wave theory while at the same time aiming to improve its predictive power. NeoWave is a discipline in itself with many additional rules and requirements and with new corrective chart patterns such as the neutral triangle, the diametric formation, the 5th failure terminal and the 3rd Extension Terminal.
Time plays an important role in its logic: the time duration of pattern segments is used to determine whether or not a pattern has completed. According to the NeoWave logic, a pattern can not take too much or too little time (relative to other phases) to complete. Some traders combine NeoWave with other technical analysis techniques to try and find the best trades.
This Elliott Wave count for the 2nd wave of the correction shows how to use a, b, c's and x's to label the waves, due to the fact that there is so much overlap between waves. A lot of Technical Analysts try to label upwards corrections with numbers 1 thru 5, and wind up showing the fourth wave trading in the range of the 2nd wave. It's an Elliott Wave rule that ...
NON OMNIS MORIAR
ILLUMINATI KNOWS THE FUTURE! WXYXXY
CORRECTION!
After seeing the future's price action today, I have no doubt this will play out. Small sell-off would balance the market but noooooo, banks had to do this. Be witness to unprecedented RISE and then the FALL.
