Hello all. I've been crunching my way through some big picture Elliott wave
analysis. My current play (which *will* be revised in due course as I discover structural non-compliance) is that we are in wave 2 of 3 of 3. This is based upon the depth of retracement after last two major rallies (in 2014 and 2017) and the compliance of the latter to a single channel (on a log plot) which is typically indicative of a nesting 1-2,1-2 pattern preceding a highly impulsive 3-wave
. If this is the case then the party hasn't even begun yet from a price point of view (the 3-3-3 should see us cross above the Blue channel highlighted in the last picture). This EW big picture is an ongoing project so I'll 'bug-fix' it regularly. Happy trading (or spectating)! All critique encouraged (as always).