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What A 5-Wave Elliot Pattern Looks Like

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sc2i.png

 

Now the textbook example ... with what happens next:

 

5320wave20uptrend.gif

yeah; it's sure been looking that way. lots of divergences and volatility...... I'm short right now on a number of positions, with tight mental stops, so we'll see. I'll keep an open mind and add or exit based on what the market decides to do.

 

Munsterk

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Major support at the 1150 area. 50-day EMA now comes in at 1162 - still a little way to go for the 17/18 month cyclical bull market :)

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sc2i.png

 

Now the textbook example ... with what happens next:

 

5320wave20uptrend.gif

 

Yes, but is not a 5 wave structure impulsive, which on this wave count would suggest we are in a new bull market (?) Are you calling for a new bull market? ;)

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Yes, but is not a 5 wave structure impulsive, which on this wave count would suggest we are in a new bull market (?) Are you calling for a new bull market? ;)

 

According to Frost and Prechter's EWPs when a correction begins with a five wave impulsive move it is always followed by a more complex corrective structure.

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So we have yet to complete the A wave down to 1050 or so.

We went into the 1050 handle on Thursday evening.

(did you miss it?)

 

I wonder if this was an Elliot wave on speed?

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Prechter is unrepentant. Gold to 680. Silver to 8.39.

 

''Time has eluded me for the last 10 years...'' (interview with Frisby B and B).

 

 

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Didnt CC say something similar about the US long bond a few weeks ago?

 

I think that was a medium term trend, not short term call? There will no doubt be a perceived "flight to safety" to treasuries as EMs fall.

 

I think the evidence for the argument for Treasury bond rates rising, and USB 30 year falling is undoubtedly very strong, whether using Elliott wave, TA, fundamental analysis or just good old fashioned common sense. The problem is that we are embarking on a 20-30 year trend so traders and short term investors won't follow this that keenly, IMO.

 

 

 

 

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