Few listen. Few care. Today during the trading day I posted a link to this ES 30-minute chart, which I had drawn up with the specific intention, again, to see if anyone is listening with regard to degree labeling.
People that saw this chart should have been screaming that the supposed a wave of ((4)) was larger than the whole previous wave ((2)). That is a clear and unmistakable degree violation. One is saying a smaller degree wave is larger than it's larger degree counterpart. But, there are other degree violations too. Wave ((4)) - smaller degree wave than i, is longer in time than all of i! That is just as much as degree violation in time, as the former one was in price!
Perhaps one person was on the right trail when they asked if the up wave was over. But, they did not cite the potential reasons why. My point is that people 'should' have really beaten up that chart. What did I get? Silence.
Here is the correct count.
|SP500 Cash Index - 15 Minutes - Correct Count|
Clearly you can see the diagonal downward did not overlap the prior wave i and is still probably in the fourth wave position. Clearly, you can see that it did not take out the fifth wave of iii in less time than that fifth wave took to build.
Clearly you can see the only wave that took out it's prior wave in less time, was the new location of i down.
So, what we most likely have is a truncation top. And, if the top truncated that means it also can not be a leading diagonal wave. Ponder on that one. "If the top truncated, it can not be a leading diagonal wave up to that point."
I'll let you sit with that one overnight.