In an earlier idea I posted a bullish wave count based on a zig zag pattern that suggests DJI should push higher once the pattern was complete. I labeled the pattern 1 up and 2 down because to me the correction looked one degree higher than all the previous ones before it. I also had an alternate that suggested the same pattern might be wave 3 to 4 with wave 5 to come competing intermediate wave (5). IF the Dow has completed five up and done, it's over the Dow should start correcting straight away.
IF the wave count labeled Alt: 1-2 is the correct then that count says wave 3 higher is still to come.
Also Elliott says if wave three is the longest then waves one and five tend towards equality, the bar pattern in red is the wave one bounce off the 2009 low which is all most equal to the wave 5 bounce off the March 2020 low.
IF the wave count labeled Alt: 1-2 is the correct then that count says wave 3 higher is still to come.
Also Elliott says if wave three is the longest then waves one and five tend towards equality, the bar pattern in red is the wave one bounce off the 2009 low which is all most equal to the wave 5 bounce off the March 2020 low.