Elliott Wave 5.0 "Reboot"

Sunday, March 6, 2016

Berkshire Hathaway Inc. BRK.A, Elliott Wave Count Review

Once I looked at BRK.A again, it still seems to have that impulse looking bull market, but in the last year or so it has been in a correction which I think is a 4th wave decline. This 4th wave may still have one more leg to go to the downside, but then it should roar once again, and create a new record high. 

Warren Buffet owns many of the DOW companies so is BRK.A a leading indicator to the DJIA? I think it is, but only time can clear that up. We should know by the end of this year as it may take this long for any 5th wave to play out.  I used  a Primary degree  impulse wave count more or less for the ease of displaying it. The late 2007 peak could also be waved three in a Cycle degree in which I would have to bump up this entire wave count by one degree. 

The bounce we did have in this stock looks like an expanded pattern so those can always finish with one more leg to the downside.  The previous 4th wave bottom would be a good place to look for a reversal.