Tuesday, December 20, 2016

Still in the Fourth Wave - Taking Time

Fourth Waves should take time. This one is no exception. The Dow has made two new highs while the SP500 has not. Those are likely X waves in the SP500 cash.

SP500 - 2 hr - Still in 4th Wave

Still waiting on price to cross the EMA-34 with 120 candles on the chart.



  1. So the EWO has met minimum requirement for 4th wave? What if 2278 is exceeded tomorrow?

  2. EWO has met the minimum requirement for a fourth wave. Price has not because it has not crossed under the EMA-34, yet. Could still be a triangle or multiple flat. Please review the definition of a multiple flat and the X-waves within them. Slightly higher highs in that context have no other special meaning.

  3. Is that a bill Williams counting rule where price must cross below 34 ema?

    1. His rule is that the alligator intertwines in a fourth wave, with price above and below it. The EMA-34 almost always lies dead on top of the balance line of the alligator.

  4. Joe, when do you decide to switch from a 1 hour chart to a 2 hour chart? I reason I ask is that the 1 hour chart broke down below the EMA-34, but the 2 hour chart has not. Thanks.