Thursday, March 10, 2016

The Equities Problem

From an Elliott perspective the move down from last May's high is difficult to count. Waves down that count as 5 and have the classic  "look" of an Elliott impulse wave are scarce and frankly the whole thing counts better as ABC's.  This is NOT new. Pls see OH OH Equities from Aug 12. 2015.


click to enlarge
The c wave is very very close to equal to the a wave. (sorry about typos)
And the recent thrust up is hitting the .618 retrace.

Important question presents; is this an X wave up to be followed by another series of abc's down or the first leg up of a new high for world markets? I'm betting on the former.
Should find out pretty damn soon.

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