Short term Elliott wave count suggests that rally to 17173 ended wave (W). Decline from there is unfolding as a double three where wave W ended at 16300 and wave X bounce ended at 16883. Near term, while Index stays below wave ((x)) at 16605 and more importantly as far as pivot at 9/22 (16883) high stays intact, expect Index […]

 Elliott Wave Theory Structure : Double Three with a Contracting Triangle in the connector Wave B or X As mentioned here before double three structures are common to see in the market and as it has been pointed out before they can also be the Elliott wave formation that a particular market instrument is trending […]

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Short term Elliott wave count suggests that rally to 17173 ended wave (W). Decline from there is unfolding as a double three where wave W ended at 16300 and wave X bounce ended at 16880. Near term, Index is correcting cycle from 9/22 (16880) with potential target of 16542 – 16720 area, then as far as pivot at 16880 stays intact, expect […]