S&P 500 Wave 4 Double-Three Correction
Updated
- Double three is a sideways combination of two corrective patterns.
- Three types of corrections: zigzag, flat, and triangle.
- Combine two corrective patterns = Double Three.
- Wave B = 4333
- Final Zigzag Wave C = 123.6% of wave A = Wick right below, to 3553.
- News outlets will be screaming recession; the bottom signal!
- Estimated time of bottom: August
- Melt-up {wave 5} commences after correction ("crash") concludes.
- Invalidation if the monthly candle closes above the Bull Market trendline (Bolded Yellow).
https://elliottwave-forecast.com/wp-content/uploads/2017/01/double-three.jpg
- Three types of corrections: zigzag, flat, and triangle.
- Combine two corrective patterns = Double Three.
- Wave B = 4333
- Final Zigzag Wave C = 123.6% of wave A = Wick right below, to 3553.
- News outlets will be screaming recession; the bottom signal!
- Estimated time of bottom: August
- Melt-up {wave 5} commences after correction ("crash") concludes.
- Invalidation if the monthly candle closes above the Bull Market trendline (Bolded Yellow).
https://elliottwave-forecast.com/wp-content/uploads/2017/01/double-three.jpg
Note
Extended correction, not recession. Correct
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