As long as Costco doesn't fall below 447.9 it looks like it is in a big wave 4 of Supercycle degree. A Supercycle that started in October 1987.
This wave 4 is developing as a triangle.
Wave e of that triangle should reach approxemately 465 - 468 Dollar.
From there a reverse fibonacci would indicate a target for wave 5 at about 1100 USD.
This is all in log scale.
This wave 4 is developing as a triangle.
Wave e of that triangle should reach approxemately 465 - 468 Dollar.
From there a reverse fibonacci would indicate a target for wave 5 at about 1100 USD.
This is all in log scale.
I don't like gaps for the simple reason that from an Elliott-Wave perspective one never knows what those gaps conceil.
It could be a five-wave move to the downside or just wave 3 of it. Either way the correction should find it's end in the region around 160 USD and give way to a new impulsive move to the upside.
Keep a close look at Costco. These are buying prices.