Elliott Wave 5.0 "Reboot"

Wednesday, February 17, 2016

Comment on: The ELLIOTT WAVE lives on - Anthony Caldaro - Public ChartList - StockCharts.com

This is a link to a few of the charts with the DJIA and SP500 typical wave counting example. Anthony Caldaro is one of the top Elliott Wave sites in Google search engines.  He uses a completely customized degree template as there is an extra degree, he stuck between Primary and Intermediate degree This new degree level he calls Major degree.

All the pretty colours with about 4 different shades of blue keeps you guessing at what degree level he is working the DJIA. He did make it clear that his 2009 bottom was a SC degree wave 2 bottom.  I just have to say, "Wow"  If 2009 was a wave 2 SC degree bottom and still we had no depression, then we will never get a depression in the next 144-233 years. I think it is technically impossible to have a depression at a smaller degree wave count compared to what triggered the last depression.


This is still the March Mini DJIA contract and we can see a correction happened and then it proceeded with another leg up. It has crossed a new high as a 3 wave pattern at this time, and waves 3 -4-5 would still have to develop in order to kill this wave count. 

My favorite option is the basic expanded flat, with a zigzag inside the "B" wave. One smaller degree again and I have another expanded flat. I have no problem in counting it this way as they are all in different degrees, Right now the DJIA is still heading north.  

If this expanded flat scenario is true, then the DJIA could crash and produce another double bottom at my "A"wave in Subminuette degree. If a 5th wave is still to come then we could run into severe resistance at the 16,400 price level or a bit higher.  

For the short term I have used 5 waves in Minuette degree and that may have to be changed if and when it plays out. 


As I was posting my above wave count the DJIA continued its accent which I have to treat as an impulse with a very small first wave.  Either way a spike is forming so another correction or reversal of the trend is due.  I am going to include some key words in my labels hoping that the search engines will pick up more of my pages. Search Engine Optimization is as clear as mud to me  and a 12 year old could do a better job, but I can only take baby steps to see what works and what doesn't.