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nim1984 - Good point! We don't know if wave-c has finished yet. That was just my guess because GCG12 is rolling over to GCJ12 now. Sometimes a reversal occurs around futures contracts' rollover dates.

01/28/2012 Comments are welcome!

nim1984- Thanks for commenting and sharing your thought. Yes, I like your idea of keeping it simple. That is also one of the reasons that I don't agree RP's wave counts most of the time. Your scenario is quite possible. In that case, this big ABC correction is in the same degee as that of...

jas_in_hbca - I took a look at your posts. All make sense to me! This one is especially good! It could be a higher degree wave-c or wave-3 going down now.

01/21/2012 Comments are welcome!

jas_in_hbca - You are welcome to post here. I did not check this thread today until now. Let me post my weekly counts first in my post. I'll find a time later on weekend to review your counts. (I'll go skiing next two days, so I won't check until I am back home.)

01/14/2012 Comments are welcome!

jas_in_hbca - It could be. As I believe and mention many times that anything is possible. With that scenario, we are going to enter a long term bear market soon. That bear market could have 2.5 more years to go, and it's final destination of the bear movement will be after falling below...

01/08/2012 Comments are welcome!

Rothschild - I would guess that SP spot index 1320 area could be where the reversal starts. We need to pay attention if SP ever moves to that area to see if there is any sign of exhaustion.

Waves [[[A]]]-[[[B]]]-[[[C]]] are not 3-3-5. [[[A]]] is definitely a 3. [[[C]]] is highly possible a 3 too. [[[B]]] could be a 3 or a 5 depending on how we see it. [[[D]]] and [[[E]]] are part of [[[[IV]]]], where the assumption is that they are in a wave-4's abcde triangle. (See above...

01/01/2012 SP Monthly Chart Again An alternative count: [[[A]]].[[C]] becomes [[[[IV]]]] [[[B]]] becomes [[[[V]]]] [[[C]]].[[C]] becomes [[[A]]] [[[D]]].[[C]] becomes [[[B]]] If this is the scenario, we are in [[[C]]] now, and it could go to 550-650 when it finishes.

I just noticed that I had a typo in gold's month chart. The final target of gold's super bull market could be $1,960. The extension wave [[[V]]].[[IX]] should be labelled as [[[V]]].[[E]].[IX].

01/01/2012 Monthly Charts Comments are welcome!

This thread is closed. Please visit the new one: http://www.elitetrader.com/vb/showthread.php?s=&threadid=233839

I am starting a new thread for 2012's first half year (Jan - Jun), including EUR, SP, Gold, and JPY. My previous wave counts can be found from: http://www.elitetrader.com/vb/showthread.php?s=&threadid=228108 Elliott Wave reference can be found from...

ammo - Thanks. Elliott Wave Principle is a very powerful tool. You'd better start learning that if you believe in Natural law. To answer your question, "if this were wave 5", my convention would label it as abcde instead of 12345 because the wave from the low of 2009-03 did not show an...

12/25/2011 Happy Holidays! Comments are welcome.

yupek - I assume that you are talking about SP. Yes, it could break "the current big triangle" (as I believe that anything is possible). I did not mean to ignore that scenario, but I just did not want to draw a spiderweb on the chart to include all possible scenarios. You might want to ask...

12/17/2011 Comments are welcome!