Are you using swannell's EW software elo, ?
Got that one more push higher into the 200 day ma to finish off the wave (iii) of the ED C wave...
SPX 120min to show were were up to in the possable pattern..:)
Quick scribble on the 120min SPX..
ED pattern could be complete....There is a chance that we're still forming the V'th and could get one more push higher...
See what you think :)
"B" waves have a habbit of draging their feet and using up the time element...
Just a quick scribble on what an idealised wave 4 should look like....:)
Bears would love a 1:1, although its rare you get a 1:1 on a ED wave 4...They normally have a swift A wave then choppy B followed by a failed/Double bottom C giving the W pattern people are familiar with...:)
Could well be in a lesser ed wave c pattern on the globex to finish the wave (iii) off early next week with today entering a lesser wave 4...:)
ED with in an ED....
120min scribble :)
This ED count has been on the money so far...
It would also fit with one more pull back after OE for a wave (iv) as Mike said, before going into the finial (v)th...
Mentioned an ED or Extention possablity in USO but forgot the Daily USO chart
I've put the conservative count on for now with the ED and the extention in with the dotted line...
:)