Elliott Wave 5.0 "Reboot"

Friday, February 26, 2016

E-Mini Nasdaq 100 Intraday Correction Review

This Nasdaq 100 chart fits an impulse far better than all the rest which could put us at a potential wave 1 top today. This still could take us down to the 4120 price levels before it cranks up again. 
We would want to see an obvious correction before I turn bullish one more time.  
There is not much I can add to this as we have to see if this does play out as a correction. 

I have counted out what looks like an expanded pattern and this would be a spitting image of what the GSC and SC degree wave counters say is in the markets. The difference is they are painting us a picture that say three sets of expanded flats will happen as a SC degree "A" wave bottom must create a new record high as well.  I have never seen three sets of identical expanded flats happen in a row, all having a higher degree for each. It's not going to happen, and is pure hogwash as a pattern or groups of patterns.