Corrections occurring in 5-3-5 patterns generally start a new rally. Wave A appears to have taken the form of a leading diagonal - Wave B (abc) - Wave C (5 wave impulse. Though we sit within a bear channel, it is possible that a new impulse has begun and that waves 1 and 2 have printed. Weekly stochastic indicator suggests that we may be primed for a move to the upside. Stay tuned for more developments.
Please let me know what you think, I am by no means an Elliott Wave pro, but aspire to be one. Criticism is welcomed!
Please let me know what you think, I am by no means an Elliott Wave pro, but aspire to be one. Criticism is welcomed!