After the first five postings in this series we have reached the point of showing an A-B-C-X-A-B-C-X Double Three pattern in the cash S&P500 ending at the November 2012 low. The hypothesis under examination states that the pattern requires one more A-B-C that will be visible on the daily chart.
Using D-Wave Criteria the count is laid out in the attached chart. The five wave impulse up into the May high composes the larger ‘A’ wave. We then have an a-b-c decline into the June 24th low which delineates the larger ‘B’ wave. The rally since then is part of the final ‘C’ wave up which will complete the pattern. At that point this wave count portends a major top will be in place.
1 comment:
Saxby, interesting and, I thought, a very well done series on waves. Many Thanks! Now let's see if it coordinates with a Weekly 13. :))
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