@MERCmethod thanks for the idea and your very thorough take on the potential for inflation. You were as close as it gets to being perfect on your pullback of 2763. Is that 100% retrace from swing low A (first week of May) to B? If so, I'm looking at the same chart as yours and I don't see 2763 unless I go further back to April. I'm just trying to understand how you got to that number. Thanks!
ravi_is
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this could be a diametric formation
ravi_is
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wave 4 cant come in zone of wave 2 and in neo wave there is no leading diagonal pattern...
UnknownUnicorn266486
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@ravi_is, wave 2 and 4 can overlap in diagonal or triangle pattens. Im not sure what neo is, I focus on Elliott Wave
ravi_is
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@MERCmethod, glenn neely in this book mentioned some very specific rules for ew patterns... and for orverlapping patterns it can be corrective or will be in terminal impulse. so based on his theory this could be a diametric pattern as abcdefg so in spx we might have not abcdef(could hve ended or wll end ) and the a=g the last wave most of the time. anyways keep up the good work
UnknownUnicorn266486
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@ravi_is, got it, thanks for clarifying. Will check out his book!
ReallyMe
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Busy buying "industrials, mining, that type of stuff" in a falling market?
Well, good luck finding the right one!
Have a wonderful weekend, and may Monday not be the disgrace...
@MERCmethod, YTD is not the number a respectable trader should pay attention to, because the stock market does not know any YTD limits. It is always continuous, its cycles remain unaffected by the annual limits. haha