Elliott Wave 5.0 "Reboot"

Wednesday, March 23, 2016

DJIA Intraday Top Review: Is The Rocket Running Out Of Gas?

This is not the mini and it does not move during the night trading sessions. It also produces a slightly different wave count, which many times will not confirm what the minis are doing or have done.  In general, they will react together like peas in a pod  as fear has no boundaries once it strikes. 

Since there are always 5 different patterns we can face on any given move, specific to the degree. I could spend hours on each posting explaining in detail all the different potential scenarios. 

Sorry, but they don't pay me enough for me to spend my time in running multiple scenarios on one chart.  Using a specific wave count is the best way to eliminate it as once it's trashed there should be a better fitting one around. 

This top could be the end of my "E" wave or just the end of a wave three in Subminute degree. This we may only know when sufficient time has passed and a great looking correction has actually played out. 

I find the top line more useful as we can see the markets sooner when they roll away from the top line.  Now if I really wanted to impress my readers, I would show an extreme wedge from the bottom that is getting hit right now.  

This trend has gone on long enough without a good correction so something is due to happen. Any 4th wave correction may take 5-8 days, so we  must be prepared to change our minds if an impulse heading down is not acting from the proper script.  

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