moneyjeff1
8 month sideways correction looking to complete soon.
Could be a E.D in a C wave, which would then re test the March lows.
A possible combination of ZIG ZAG followed by a FLAT pattern and it should be completing soon. The 5th wave of the C wave could be an ending diagonal pattern, if so the reversal could be very fast. The bearish alternative is that next bounce could be a B wave that retests the May high, then back down again in a C wave.
After the 5 waves up complete from the 2009 low what is next? Either a wave 2 or a C wave in a larger flat.
Strong Elliott Wave structures from 2003, looking to complete the final 5th wave in the next 12 to 18 months.
Possible Zig Zag looking to complete around the 50 to 60 region.
Could be ready for a C wave in a larger flat, or a more bullish wave 3 in an impulse.
Looking to push higher to around the $780 level in the shorter term. Longer term, It does look like Tesla needs a C wave down to under $500, which would be a great buying opportunity.
Text book Elliott Wave channel says prepare for at least 7000 in the S&P500.
Possible Elliott Wave double combination pattern: A Zig Zag and a Flat structure. Needs a nice 5 waves up to confirm end of correction.