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Tuesday, June 4, 2013

Tuesday, 6/4/13 update

Corrective waves are difficult sequences to analyze using Elliott Wave, and the corrective pattern since the May 22nd highs has been typical in that regard.  Lots of choppiness, overlap and three wave patterns.  But the picture appears to be getting somewhat clearer.  Right now it can be counted as a five wave impulse into the low on May 23 for an "a" wave of a zig-zag, followed by a "b" wave into the high of May 28, with the "c" wave developing in the form of an ending diagonal since that time. 

As can be seen, if this count is correct then the "c" wave ending diagonal is in its very last stages.
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