S&p500 Update
Those who follow me know that I am meticulous, and I count waves on ALL timeframes, including very low timeframes, before concluding the big picture.
The surge in DJI on Friday led me to believe that the diagonal I've been following since March 13 is invalid. However, after examining 1-5 minute timeframes and above, I still think we are in the final stages of the ending diagonal, also known as the rising wedge.
However, the price must not exceed 100% red line (wave three length) and must not fall below 0 - x line subsequently (the hard guideline for wxy double zigzags) for the scenario to be valid. If either occurs, I will be left scrambling for alternatives.
In the next post, I will review DJI, which I have not visited for a while.
The surge in DJI on Friday led me to believe that the diagonal I've been following since March 13 is invalid. However, after examining 1-5 minute timeframes and above, I still think we are in the final stages of the ending diagonal, also known as the rising wedge.
However, the price must not exceed 100% red line (wave three length) and must not fall below 0 - x line subsequently (the hard guideline for wxy double zigzags) for the scenario to be valid. If either occurs, I will be left scrambling for alternatives.
In the next post, I will review DJI, which I have not visited for a while.
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⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
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