Interim Post - Minuet Wave (i)

With 166 candles on the current half-hourly chart, the Elliott Wave Oscillator suggests that the minuet (i) wave may be completed as a "bullish falling wedge". This is not a diagonal pattern, but a non-overlapping impulse.

ES Futures - 30 Minutes - Five Waves Down

There are definitely 'five-waves-down'.  Thre "third-of-a-third" is on the lowest trough of the EWO. The fifth-of-the-third ends on the expected divergence. The fourth wave may be a triangle. The fifth wave is currently on a divergence with the EWO. And, it is worth noting that the EMA-34 contacts every major numbered wave as expected.

On a one-time only basis I have added two charts, below, to the post to show a very clear example of the wrong way and the right way to count the very same five wave movement upward. The wrong way does not consider the elements required in degree labeling. The right way considers these elements, and more.

Wrong way and right way to count using degree labeling. In this chart, the supposed sub-wave of wave ((3)) whether counted as wave i or ((3)) or iii of ((3)) is too long, if wave ((1)) is the larger degree than i or iii.

ES Futures - 1 Min - Wrong Way to Count

And here is the right way to arrive at the same conclusion.

ES Futures - 1 Min - Right Way to Count

In the first chart, degree labeling says "one may not claim a lower degree sub-wave is longer than a larger degree wave". Yet, everyone counts this way. The second chart eliminates that problem because wave ((3)) and wave ((1)) are of the same degree, so wave ((3)) may be larger than wave ((1)).

See the comments below at 12:55 ET, and this CHART, as to how the "correctly counted" wave led to the correct conclusion in 'real time', where the incorrectly counted chart leaves one with two alternates and a lot more uncertainty.

Also, notice the overlap at the top?? Very, very telling.

Have an excellent start to the day.
TraderJoe