The wave pattern may be near completion.
The flipside is that this is merely wave [i] of Minor 5 up to a new market peak as shown on the Wilshire below. Minute [ii] would be a retrace down of the rise of the past few days.
Oct 16, 2012
Elliott Wave Update ~ 16 October 2012
Yesterday it was predicted a big up gain right out of the box would occur to fulfill a wave (ii) 3-3-5 expanded flat.
The wave pattern may be near completion.
Challenging the upper wedgeline again:
Technically the NYSE ended today at a 75% up issues ratio and a 79% up volume ratio. The NASDAQ was 63% and 65%, less robust. So technically, this fits into a wave (ii) scenario with a big wave (iii) down coming.
The flipside is that this is merely wave [i] of Minor 5 up to a new market peak as shown on the Wilshire below. Minute [ii] would be a retrace down of the rise of the past few days.
The wave pattern may be near completion.
The flipside is that this is merely wave [i] of Minor 5 up to a new market peak as shown on the Wilshire below. Minute [ii] would be a retrace down of the rise of the past few days.
