The Dow Jones Transportation Average (DJTA) has a clearer and perhaps more advanced Elliott wave structure than the SPX.
More advanced means the DJTA is further along in the development of an impulse wave.
The DJTA can now count as having completed Minor wave "3" while the SPX still looks like it needs more sub divisions to complete its Minor wave "3" of a possible "five" waves up from the 2/11/16 bottom.
If theses wave counts are correct, the DJTA could record a major top before the SPX and DJIA.
Possible major top time zone is April - May.
Watch the DJTA.
I will have follow up posts on the progress of the DJTA.
Mark
More advanced means the DJTA is further along in the development of an impulse wave.
The DJTA can now count as having completed Minor wave "3" while the SPX still looks like it needs more sub divisions to complete its Minor wave "3" of a possible "five" waves up from the 2/11/16 bottom.
If theses wave counts are correct, the DJTA could record a major top before the SPX and DJIA.
Possible major top time zone is April - May.
Watch the DJTA.
I will have follow up posts on the progress of the DJTA.
Mark