@TheMailrouter It is a 'plausible' count on some indicies like the Wilshire and S&P. It requires seeing the last five wave down sequence down to Oct 3, as a contracting ending diagonal. And, when the DOW chart is looked at, that last movement does not seem to contract, it seems to expand. So, while that is one way to work it, such a count THEN requires the market up movement to May 2 ended on a three-wave sequence, and a fifth failure wave can't be found - not likely. Good question!
@fnd909 Often times, yes, but the Elliott Wave Principle is quite clear on page 40 that "the jury is still out" as some Leading Diagonals have been formed as 3:3:3:3:3 and some as 5:3:5:3:5. We tried to present both of them this week in the video. And, yes, it does complicate matters a bit, but we also think we may be seeing more of them now because of the rapid fluctuations of the dollar. Were it to stabilize, we would likely see more regular impulses in my opinion.
Hello Joe,
thanks for the update. Many people have this rally as a A-B-C that topped already, with previous wave 5 as the bottom of Oct. 4th (ending diagonal).
Any thoughts on that?
TheMailrouter 3 months ago
@TheMailrouter It is a 'plausible' count on some indicies like the Wilshire and S&P. It requires seeing the last five wave down sequence down to Oct 3, as a contracting ending diagonal. And, when the DOW chart is looked at, that last movement does not seem to contract, it seems to expand. So, while that is one way to work it, such a count THEN requires the market up movement to May 2 ended on a three-wave sequence, and a fifth failure wave can't be found - not likely. Good question!
ElliottTrader 3 months ago
Thanks Joe, I missed you last week!
Very clear presentation - one can always learn from a lesson too.
Thanks! It should be another interesting week.
KaZoom1618 3 months ago
@KaZoom1618 Thanks very much for the feedback, and be sure to 'whack' me, too, if you see a better idea out there.
ElliottTrader 3 months ago
aren't leading diagonals supposed to be 5-3-5-3-5 ?
fnd909 3 months ago
@fnd909 Often times, yes, but the Elliott Wave Principle is quite clear on page 40 that "the jury is still out" as some Leading Diagonals have been formed as 3:3:3:3:3 and some as 5:3:5:3:5. We tried to present both of them this week in the video. And, yes, it does complicate matters a bit, but we also think we may be seeing more of them now because of the rapid fluctuations of the dollar. Were it to stabilize, we would likely see more regular impulses in my opinion.
ElliottTrader 3 months ago
Thanks for sharing your analysis. It is appreciated.
nevadaxtube 3 months ago
thank you for video
i think shanghai se is still in im wave and target is 4200
please see my massage i have sent a message to you
me7md 3 months ago