Next Leg Down, Top Next Week
Updated
Looks like Minor wave A likely finished today, next up is Minor wave B. Models point to 18-22 hours of possible duration which will likely see the bottom on Thursday. There are a three pockets of interest for the bottom. I used the green box (4281-4294) for the more conservative zone, yellow (4255-4275) for the more aggressive zone and my target is the white box (4270-4285) straddling both boxes. Depending how Minor wave B plays out, Minor wave C and Intermediate wave 4 are currently projected to end early next week between 4355-4390.
METHODOLOGY:
I operate a modified wave theory composed of Dow Theory and Elliott Wave Theory. All data is determined from comparing current wave locations with historical wave relationships. The listed percentages are based on previous movement extensions and retracement quartiles of the data. There is too much data to list all points but overlap of the quartiles based on specific relationships tends to point to more likely targets. The light pink levels are based on most specific data, light blue is slightly broader, and yellow levels are the broader set of data used. A red level typically indicates maximum historical move for the current wave throughout the historical data.
METHODOLOGY:
I operate a modified wave theory composed of Dow Theory and Elliott Wave Theory. All data is determined from comparing current wave locations with historical wave relationships. The listed percentages are based on previous movement extensions and retracement quartiles of the data. There is too much data to list all points but overlap of the quartiles based on specific relationships tends to point to more likely targets. The light pink levels are based on most specific data, light blue is slightly broader, and yellow levels are the broader set of data used. A red level typically indicates maximum historical move for the current wave throughout the historical data.
Note
Update based on new high today.Minor wave B can still end Thursday, but possibly into Friday now. Strongest pocket for bottom is 4385-4389. Additional target areas are 4385-4304. Majority of models point to mid to late Friday for the end, with others at 11-13 hours which would be closer to Wednesday morning. My target is around 4390 before the close on Thursday. The end of Intermediate wave 4 is likely a little longer and closer to the end of Tuesday/early Wednesday of next week. Will update once Minor wave B is completed.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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