Tuesday, October 6, 2015

10/6/15 -

Let us revisit the daily chart and exam the current probabilities.

Daily
Off the 5/21/15 high, I count a large a-b-c flat out of the ending diagonal. From there, the 60 min chart highlights the other possibilities for wave c of this flat.

60 Min
Either we have five waves down to complete wave c of the flat or wave iv of c is underway.

If wave iv is underway, it may be a flat as well with its own wave c approaching the 50 day SMA and may almost be complete near 2000.

Here are the wave c extensions relative to wave a:
c=a at 2020
c=1.618*a

Weekly
 Haven't posted my long term weekly chart in a while. Assuming the flat on the daily chart is complete, it is very possible that wave (4) is complete. The alternate is that wave (a)? of (4) is complete (daily chart).
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