i have two prelim targets for the end of wave a of 5 depending on where (iv) ends (it might need updating). a more conservative target is 306 which is where wave fives more commonly end (61.8% of 1~3). i have another target of 324 if wave (v) extends 100% of (1~3). i like 324 because it's close to the ideal 320 target and has the right look ending near the ((i))...
i like this count better. it seems to have the right look. waves a & b are complete. wave c is underway; (iii) possibly extending. target is 320 for the end of wave c/((v))
wave (v) extended greater than 100% of ((i)~(iii)). the advance stopped near the upper channel line. i believe the b wave correction is now underway
I believe the first impulse wave of the zigzag has completed. I'm expecting a correction back to (iv) then another impulse wave up to 320 to complete wave a of 5
wave a is in progress as a smaller expanding diagonal. ((v)) is a zigzag so expect abc up to 320.86 to complete wave a of 5 of the larger expanding diagonal
i have an alternate count where wave a of 5 is an expanding leading diagonal as you can see in the chart. im expecting ((v)) to be 161.8% of ((iii)). after that, we get a correction for wave b and move to 400+ to complete the wave (1) expanding diagonal
i want to clarify my market outlook for longer term. i believe the market is in a supercycle wave (III). this wave is a "trending" wave and should channel well all the way to the top of wave (III). once the market reach 4812 and complete the expanding diagonal (wave I) we should get a 50% correction which is classic wave two behavior then resume uptrending. using...
if you zoom out, the bigger picture shows an expanding diagonal pattern just like the current 2 hour chart. market is full of fractal copies of itself. the expanding diagonal is the perfect pattern for "bubbles" to form in short order wave ((3)) was 423.6% of wave ((1)). im expecting wave ((5)) vs ((3)) to have similar relation with a target of 4812 im not...
the agressive retracement of wave ((i)) has the personality of a wave "two" (deep retracement). i have relabeled wave 4 as a wxy correction. it makes more sense now with wave y as a triangle and is even more bullish than previous count because of the length of wave ((i)). the ideal target seems more within reach. i updated the minimum wave 5 target to 340.61 and...
wave a of 5 is in progress. i believe ((iii)) has just completed; a little bit more than 161.8% of ((i)). market may trade sidways ((iv)). please remember this is a zigzag. when wave a completes we get a correction then resume uptrending to the top of c. note: wave 5 must be larger than wave 3 in an expanding diagonal. if this is indeed an expanding diagonal a...
not much has changed. wave 4 is taking more time because of the recent low. i've relabeled the recent move up as an x-wave. wave 5 may start soon
market has completed wave (i) & (ii) of a. (iii) will take us to 280-315. the general pattern is a zigzag to the top of this diagonal
i have included the minimum target for wave 5. wave 5 is required to be larger than wave 3 in an expanding diagonal (minimum target is 333.83). i have also included a less likely target for an extended wave 5 (508)
wave (i) seems to be in progress and looks very impulsive. iii was extended. iv looks like a possible triangle (abcde).
the LD pattern is still intact. i had to make some room for wave 4 wave 5 target is 409.71 (+-1)
market activity above wave 4 signals major trend change is in progress