Elliott Wave 5.0 "Reboot"

Friday, February 26, 2016

E-Mini SP500 Intraday Chart Correction Review



There have been some crazy moves in the markets and I am always looking for ways that the market will pull a surprise move on us.  Once I saw these angles, then I had to explore the idea that a  triangle  could be in progress.  If I am wrong, then this wave count will not last very long and another leg up will ensue. 

My first "ABC" could be an expanded flat which would be my favorite choice but then we should break out to a newer high one more time.  We have multiple choices here and even if a wave one was to complete it also could drop to my lower triangle trend line sometimes known as a Megaphone Pattern in the conventional technical analysts world.