Elliott Wave 5.0 "Reboot"

Wednesday, February 10, 2016

DJIA Another Look From A Triangle Perspective.



There are always,  a minimum of 5 choices of patterns we can make, all depending on where you start counting from. This is the same as cutting off a wave count every time we think a move is completed. 

I will not give alternate wave counts in one posting as either I am right or wrong. Many times I am just too early, but hopefully not too many times that I am too late. Either way, if a specific wave count may not work, it can always be shelved, temporarily and if need be regurgitated at a later period of time. 

Janet Yellen's big mouth sent stocks reeling this morning, but if a bullish phase is still in progress the markets will eventually do the opposite of what the herd expects or what conventional forecasters are telling us.  We can't forget the wave count group from Mars as they need that the big decline to give us the depression that has been so long in the making.  

Most of the time the triangle will produce a thrust, but we are on a bad start for that to happen.  Any diagonal 5th wave can be pretty dramatic as well, but the most important thing is that any triangle forecasts that a bigger trend change, or bigger degree ending must happen.  

To confirm that a bottom is already in, the markets need to press higher, after any bad news gets printed.  

It is always important to constantly step back and look at the bigger pattern to see if it still plugs in  well.  HDGE and the VIX should also take a beating as they are riddled with gaps like a block of Swiss Cheese has holes in it.