wolfah

wolfah Updated 

Just to give you an update for the final counts. DJI retraced 17% of the last "Minor"-wave 3. (In very strong markets wave 4 does only retrace 14% of wave 3, normally it's 0.236 or 0.382.) DJI stopped right below wave "a" (magenta line), which is often the case. The bulls are back!

wolfah

Just about to finish its last leg "c" in "Minor"-wave 4 with an "Ending- Diagonal"- pattern. Usually Diagonal Triangles are rare followed by a violent change in market direction! This gives us an other hint, that the correction is over.

wolfah

Last week. AMD finished "Minor"-wave 4 and is still above the important blue trendline (dating back to peak "1" at 2016-12-16 of this mediumterm trend). arly in the morning, AMD broke the upper trendline (red channel)! This is why I suppose, that the stock has finished the first impuls-wave and is about to finish "Minuette"-wave 2. This correction could be 0.500...

wolfah

Yesterday, NASDAQ finished a "Minuette"-wave 1 AND a "Minuette"-wave 2 at 0.500 (Flat-pattern, 3-3-5 counting). So last week, "Minor" wave 4 and "Minute"-wave c must have been completed and the correction seems to be over! NASDAQ is about to finish "Minuette"-wave 4! The wave before (Wave "3") did not have an extension (Fib. 1.000 of wave "1")! That's why the...

wolfah

DJI closed well above magenta supportline. Next target could be 1.618 (20790 area)!

wolfah

NASDAQ (15') closed above the magenta trendline (dating back to 2017-03-21)! Next step must be, to re-enter the mediumterm trendchannel (blue lines), with target beyond 1.000 at 5419! This value is important, because it still could have been an ABC-correction and not an impulsive wave, yesterday!- Game of higher highs and higher lows!

wolfah

INTC (1h), is probably in a ZigZag-correction of some lower degree impuls wave 1 ("Micro" or "Subminuette") to build wave "2". The final impuls wave of this leg "c?" is not allowed to break the black horizontal line (!!!) at $ 34.62. (If it does, a recount of the whole pattern would be necessary!) Waves "c" can be 0.618 ($ 35.05) of wave "a" in a zigzag (See also...

wolfah

IBM (1h) retraced 0.382 ($ 169.58), calculated from "Minor"-wave 3! The other levels are the measured results from the "Minute"-wave a of this ZigZag correction pattern the stock is in. Minimum retracement for a wave "c" is 0.618 of wave "a" (identical with 0.382) or 1.000 ($ 166.10) or 1.618 ($ 160.00), although reaching the last level seems to be unrealistic....

wolfah Updated 

AMD (1h): Stoch(14,3,1) down and with slightly decreasing volume. During the last weeks, AMD has been hit in a "Minor"-wave 4 correction. - IMHO, this correction is about to be over! Reasons (from Elliott Wave): (1) 0.500 retracement of a "Minor"-wave 3 in a corrective "Flat"-pattern with a 3-3-5 counting. (2) 0.618 retracement of wave 5 (often 0.618 of the...

wolfah Updated 

After I had to do a recount of the pattern for several reasons (e.g.: The first two legs of WXY- or ABC-corretions often look very similar and only the count of the final legs must be different! A "Y"-wave has a corrective ABC-pattern and a "C"-wave is an 1-2-3-4-5 impuls-wave) Yesterday, the market acted as if it were in an impuls wave, with finishing of a wave...

wolfah

NIKKEI already made 0.382! Could be an "Extended 5", which leads to the 18000 level (Fib. 0.5). This is probably a first indicatior, that the correction soon might be over. - Nikkei anticipating US-market?

wolfah

Today, NASDAQ finished probably "Minuette"-wave 4 in the final "Minor"-wave c of a "Flat"-pattern. At the moment, the index also finished the first impuls-wave of some lower degree.

wolfah

Hope my countings are ok! SPX finished "Minuette"-wave a (red) and is in a "Micro c" of a "Subminuette a", which are part of the comming "Minuette b". This leg could go beyond 2363. See the red dotted resistance line!

wolfah

Hope my countings are ok! DJI finished "Minuette"-wave a (red) and is in a "Micro" c of a "Subminuette" a, which are part of the comming "Minuette b". This leg could go beyond 20750. See the red dotted resistance line!

wolfah

New counting. MU left ST-trend-corridor and made a correction from the last top to close the gap (exhaustion gap=?). - On 2017-03-17 MU broke upper trendline (blue). This could have been a topping signal for a "Minor"-wave 1, terminating the MT-impuls-wave, which started a year ago (2016-05-12) If MU breaks the blue dotted horizontal trendline, this trend will be broken!

wolfah

MMM is probably in a "Descending Triangle"-pattern, with an abcde-counting! Yesterday, MMM might have finished "Minute"-wave c (blue marked c=?). If true, next resistence will be at the descending trendline (red) and will give as the "d". This move should also have a corrective pattern with abc counts!

wolfah

Calculated from first leg ("Minuette"-wave 1), there could also be a 1.618 correction for the last leg (to level 5322)! Currently in "Subminuette"-wave 4. For further retracement levels, see Part 4

wolfah

DJI on level 1.618 of "Micro"-wave a (magenta) of "Subminuette"-wave c (grey), Low at 20520. Calculated from first leg ("Minuette"-wave a), there could also be a 1.618 correction for the last leg "c" (to level 20309)! See also my last idea (Part 7) for retracement levels.