Elliott Wave 5.0 "Reboot"

Tuesday, April 12, 2016

E-Mini SP500 Intraday Review: Up, Down Sideways!



 I switched back to my "B" wave top in Minor degree for now,  as the markets did not decline down to where a 4th wave should go. The push the opposite way still has overlapping waves so I believe the SP500 will still crash below all the support we see.  The push up should still match or exceed my present "A" wave in Submicro degree before it declines one more time. 

This could go on and on but this is more of an unstable pattern than a correction to a big bull market as any overlapping bull run usually gets completely retraced as well.  It may top out by Wednesday or Thursday before it starts to reverse on a potential Friday.  I may not have time to post very much today, but will post later this evening a few more. 

Longer term I'm still bearish as this rally is far too choppy to be an impulse.  For any sustained get up and go power, the markets have to display good looking impulse waves and this has not been the case for just under a year or so. 

Even if the triangle is still alive and active, we would still need another lower low for that to be called completed.