Friday, November 25, 2016
MTU Weekend Ed. - Potential Terminal Move (11/25/16)
This week, we explore the possibility that the post-election thrust completes the the upswing from the February low. (This is one of several possibilities, but an interesting one.)
Chart 1 shows how the 2016 upswing fits into the big picture.
[green] Wave (1)-up of wave -up from the 2009 bottom or wave -up in its entirety.
[red] Wave (d)-up of wave -down from the 2009 bottom. Wave -down is an expanding triangle.
[blue] Wave (b)-up of wave -down from the 2009 bottom. Wave -down is either an expanding flat or a triangle.
From a wave structure perspective, one would then track the 2016 upswing as an LDT/EDT for the green scenario above or a triple-zigzag for the red and blue scenarios above. In the case of an LDT/EDT, wave E is capped by 2286 and the 2215 area where SP00 is currently at represents equality of upswing ratios. See Chart 2.
Chart 3 counts wave E, the post-election thrust, in more detail. Friday's high likely either completed wave [c]-up of E or wave iii of [c]-up of E.