|ES E-Mini S&P 500 Index - Daily - Geometry|
A few questions one might ask are these: 1) why are the waves in a fairly exact channel? 2) why is there a FLAT wave (.a, .b, .c) after the apparent diagonal wave a shown? 3) why does the downward wave after wave a retrace only, and actually slightly less than, 23.6%?, 4) how would a 23.6% wave be a second wave at that location? 5) if wave ii of a makes a deep pull-back, why doesn't the wave after b have any sign of a such a deep pull-back?, and 6) are leading diagonals more often a waves or are they 1 waves?
Often times, not always, it is C waves that have little retracement in them at all, and 'take off like a rocket'. The alternate remains i, ii, iii. One can not count waves that are not on the chart, yet.
Have a good weekend, and remain patient and flexible. Let's see if anyone is awake out there in Elliott land. Take care.