What Does a Fractal Look Like?
And What Does It Have to Do with the Stock Market?
By Elliott Wave International
Although Ralph N. Elliott came to his conclusions 50 years before the new science of fractals blossomed, he took a step that current observers of natural processes have yet to take. He explained not only that the progress of the market was fractal in nature but discovered and described the component patterns. Find out more about the stock market and fractals in this excerpt. Read more.
Nothing changed since my last update but today I choose to show my alternative count!
Actually seems this last wave (if is still in play) will be with choppy following an ending diagobal pattern. So the odds suggests that this pattern will be finished bettween 1560 and 1570. Good trades.
At this moment the waves aren't clear and SPX is still in the range 1640-1560. Several counts are possible but today I decided to show a possible ending diagonal in this last wave 5. Good trades to all.
Today I show two options that are still possible after today's action.
For now the waves aren't clear but is still possible that wave 4 were finished last nigth. Waves 4 don't extend to much but at same time the wave until the 1535 don't seems impulsive. So let's see what "they" will do tomorrow. Good trades to all.
Since last highs SPX labell a descending triangle however this triangle may change to another corretive pattern (alternative count at short term). Despite this, I will expect new highs very soon. Good trades to all.
The bear case from yesterday are still possible but the odds still suggest new highs will be done. Possible inverted H&S underway and the 1498 may will be resistence for this correction. Good trades to all!
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