Monday, October 17, 2016

No Changes

With today's slightly lower low that did break below the low of Thursday's (b) low, we made no changes to the overall count during live chat. We are still expecting a marginal lower cash low below S&P 2111 this week. We did however, post an internal alternate that applies only to how minute iii (circle iii) lower might form. For that alternate, we would place minuet (a) of minute iii, at today's low. This allows the possibility of yet a (b) wave up, before the (c) wave down.

The reason for placing the alternate is that it is 'possible' to count the waves from 2149 down to 2123 as a contracting leading diagonal in it's own right, following all the rules and guidelines, and we do not have a significant gap on the chart to clearly denote a third wave or a c wave.


3 comments:

  1. You have traveled a few days in the future or you've forgotten a hundred points in price levels? ;)

    ReplyDelete