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Peter Eliades
Peter Eliades
Moderator

Kit097 said:

I don;t get it. So is the C wave possibly going higher?...it almost looks like a head and shoulders

If there are 5 waves down from Aug 16, and many top Elliott people say there are, then before an accelerated 3rd wave down there should be an upward connection, Kit. If we have just seen an A-B-C correction (we can argue we have because C now equals A or very close to it), we are then due for an accelerated wave 3 down...

carrleon20002206
carrleon20002206

carrleon20002206 said:

Peter Eliades said:

Kit097 said:

I don;t get it. So is the C wave possibly going higher?...it almost looks like a head and shoulders

If there are 5 waves down from Aug 16, and many top Elliott people say there are, then before an accelerated 3rd wave down there should be an upward connection, Kit. If we have just seen an A-B-C correction (we can argue we have because C now equals A or very close to it), we are then due for an accelerated wave 3 down...

Thanks Peter, how about S&P500, DJI and IWM? Are they showing similar trends? Can do an update on this at the close of market today?

If I look at S&P500, it looks like it is building 2nd wave up. DJI and IWM, it seems to me that they are on their 5th wave up?

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seamus.ssoh3308
seamus.ssoh3308

You called it. This is what is fascinating to me. When you have extremely competent, smart, hard-working, well-intentioned people, we as a system can work together and achieve great calls. You are awesome. keep it up!

I'm only 3 years into this career but I will try to get close to achieving what you have.

Here is what I think is next - We sit around this level and test the support again, don't know how long maybe just this week, we retest this support again tomorrow?. Then we have several red weeks continuing down to the 3250 level. Not all at once, I expect a green week or two in there also. By December 25 we could def be in 3250 territory on SPX

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ryguy
ryguy

Thank you for the midday update sharing your thoughts

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