Elliott Wave 5.0 "Reboot"

Saturday, April 9, 2016

Mini SP500 2007-2016 Review!




Any wave analyst can get caught up at the intraday level and lose touch with the bigger picture.  I constantly review the big picture I am working, even though it may be a long time between checks. 
For the last few months I have been working the 2009 to present as a 5th wave in Primary degree, with the 4th wave in Intermediate degree still in progress.  

With the potential for my "B" wave top to be completed, we could be heading down a slippery slope as a "C" wave decline. This would require 5 waves down in Minute degree, so we have a long way to go before this is clear enough for the majority to see. 

I look at the markets from a Cycle degree perspective which means, that until I find the entire 5 waves in Cycle degree there is "NO" SC and GSC degree wave patterns anywhere.  Keeping it simple, any degree correction has a specific wave count that must be filled from 3 potential corrective patterns. For a single correction they have very specific counts for 5 wave sequences and 3 wave sequences. If they are not filled then it is impossible for us to be in this big wave count degree level. 

The one big 5 wave sequence that all SC or GSC degree wave counters must get is 5 waves down in Primary degree, yet since 2000 not a single set of 5 waves down in Primary degree has been confirmed ever. 


Most SC degree wave counters have the 2007-2009 decline as 5 waves down or as a single "ABC" in Primary degree.  This makes the 2007 top as an expanded top, and now our present 2015  top they have as another expanded top. This is highly unlikely and we should never ever see two expanded patterns exactly the same.  Besides expanded patterns are very bullish patterns on a bigger scale  as they can have flat "C" wave bottoms and never go below 2009 levels. 

My wave count still has to fight though a 4th wave in Intermediate degree and then produce the following bullish cycle before a Cycle degree wave three top is near.