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Sunday, October 31, 2021
MTU Weekend Update - Marching toward Year End (10/29/21 close)
Tracking
a potential small-degree fifth wave (green) with wave 1-5 equally just shy of 5000,
yes, your count has better larger-degree proportion and currently tracks the final c of Z. A potential limitation is that he most recent a-b is similar in size to the first W-X.
Your count would place the current rally as wave B-up of wave 2-down for an expanded flat. But it is not obvious that your wave 3 is a five. Perhaps it is better to track the current rally to complete a five for a larger degree wave 3 per my green labels.
I see three zig-zags - https://invst.ly/wgzni
ReplyDeleteyes, your count has better larger-degree proportion and currently tracks the final c of Z. A potential limitation is that he most recent a-b is similar in size to the first W-X.
DeleteLooking at MTUs chart from a bull perspective for 5 waves what I see is -
ReplyDeleteBlue W - X last year would be wave 1-2 and wave 3 the peak in May 21 and 4 in June and 5 in early Sep.
Meaning this decline since Sep is wave 1 of neg impulse and current rally wave 2.
Agree MTU ?
Note AMZN
Your count would place the current rally as wave B-up of wave 2-down for an expanded flat. But it is not obvious that your wave 3 is a five. Perhaps it is better to track the current rally to complete a five for a larger degree wave 3 per my green labels.
ReplyDeleteRe wave 3 - yes but waves can be contracting both in time and price, esp as wave 1 is the largest. Expect the unexpected.
DeleteYou run into problems if you expect wave lengths to be ideal numbers.
I note that SPX has doubled its 2020 selloff range.
ReplyDelete