Thursday, May 24, 2018
Posted by Robert Campbell at 08:06
Wednesday, May 23, 2018
|Could be a breakout from the wedge (red trend lines). That would put (B) where 2 is and throw the C wave count off by one wave. If that's the case wave (ii) could end up going quite a bit further.|
Posted by Robert Campbell at 10:23
Friday, May 18, 2018
I corrected the Elliott Wave nomenclature.
Here is what I'm using and I will try to keep consistent.
The two best scenarios are the triangle shown below or the bearish count shown above. In either case the counts are both expecting the market to move down. One wants three down the other five waves down after finishing a small wave [ii] correction.
The Bullish count above is expecting three waves down before making new highs.
What I like about Elliott Wave is there is a plan and a reason for taking a position. If the market disagrees then you count again. What if the market breaks out of the triangle area? Below is my alternate count which could go as high as the all time high.
Now you might be thinking why not count Wave (ii) as the beginning of a bullish impulse wave. The reason I can't do that is Orange Wave a does not look like an impulse wave with five waves.
Posted by Robert Campbell at 13:29
Wednesday, May 16, 2018
Tuesday, May 15, 2018
Thursday, May 3, 2018
Take a look and let me know what you think.
Do you still feel the big triangle for a wave iv correction is still viable?
The past two days came down as expected, but the afternoon recovery took out the wave 1 low so unless the market is doing a 1,2/ 1,2/ 1,2 I can't very well make this an impulse wave.
Look for five waves up to about 2700 to 2750 for wave c of (ii). Then if this is correct and Super Cycle V ended at 2876.the market should begin (iii) of [iii] which in theory will be a devastating decline. Otherwise the next five wave may only be the beginning of Super Cycle V which could take the market to 3600 or even higher!
How will we know? I would feel pretty confident in the bearish scenario if the market breaks below 2530 with a strong five waves down after completing Wave c
Keep in that I am
Posted by Robert Campbell at 13:31