Thursday, October 15, 2015

[S+P500] update

While taking some short term gyrations, the model is not much changed from the backlink.  I still model this to be C of 4, inline with the EWI model.  This is an expanded flat which is 3-3-5 in nature.  The current wave is 5 of C.  Notice in the current model below that 3 of C turned out to be W3.  Now you know where I got that from.  So many times it looks like a 5th wave but it turns out to be W3.  This will be freaking out wave counters all over the world who do not have a formal W3 designation in their model kits.  To them this will look like a 1st and 2nd wave up with a big 3rd wave on deck.  So they will bail out when in fact I think this just wants to fill that small gap.  Time will tell.   It might even be done already.

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