Wednesday, 24 October 2018

S&P500 Index

The ending diagonal is 3-3-3-3-3 and appears to be a likely candidate for the entirety of Intermediate wave 5 of Primary wave 1.

But elegance would prefer that the end of wave c should be closer to the upper boundary. The puritanical consequence is that this count is feasible but not preferred, which is of course debatable.

S&P500 Index gives a divergence that initiates an upleg. There are pros and cons for this to be something more than a B wave pause in the ongoing correction. Caldaro was expecting a small 4th wave. If the 5th wave is complete and is actually an ending diagonal as many believe, then the debate about the conventional Elliott view as opposed to the Objective Elliott view is quite profound as far the prospective outcome here is involved.

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