In the past I have only given the degree list out to readers that have donated, but it is critical in understanding the different degree levels that Elliott Wave Technictions are dealing with. I added levels 16, 17, 18. Many times I have mentioned that I can have 5 choices of wave counts for any specific degree level and that changes or increases when I use bar, line or candlestick which can triple my 5 choices instantly.
The entire internet of wave counters uses nice colors in candlesticks, but EWI has never used them in any of their books that they have published. I have about 8 books published by EWI and none of the books use candlestick. In the last decade, I may have seen one wave count from EWI that was in something else beside bar style.
Bar style produces spikes and gaps which are critical to see on corrections and major turnings.
It is important to understand that any set of numbers is always corrected by one degree and lower letters. I am sure you have heard the expression, "Thinking outside the box"! Even though many may use that expression they have little understanding what it actually means. With EWP we have 18 boxes so which one are you thinking in?
The largest box is at the top with the smallest at the bottom and if they were all black physical boxes, your job is to put one box into the other, with lids. Thinking outside the box came from three boxes called, Past, Present, and the Future!
SC and GSC Elliott Wave counters are all stuck in the box called, "The Past"!
This is not the mini SP500 but the big cash unit. This shows how wild things can move. At this time this is the best wave count I can work with a potential diagonal 5th wave still in progress.
A correction 4th wave could still take place, but then we should see one more leg up. This leg would push us to all time new record highs, which is not that much of a stretch when looking at the chart above.
I realize that
my run in Minor degree is rather small physically, but we know that, that will get adjusted. Short term I am bearish until I see a correction that makes sense.
Some Elliott Analysts have switched the above wave count to an Intermediated degree impulse heading down, the problem with that is there are no impulse waves to speak of. Any SC and GSC degree wave counter desperately needs 5 waves down in Primary degree, to prove any part of their wave counts and I can still see that they are trying to force their wave counts again.
There will be no postings later today, but may update some stuff on Saturday.