Bear Market almost ready to resume. .....

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SPY & Vix daily chart:


Spy Macd (ginger baker) has delivered a lower high and lower low.

Vix Macd on the correction from 3/25 instead of pointing down, is sloping upward. When you see type of disagreement on Weekly or monthly its huge. But on Daily? Nah, maybe some, let's see
 
tenny1886 said:
Interesting and makes complete sense. looking forward to next post.
could you refer to some pointers to better understand "On each and every timeframe every wave in line with the dominant trend manifests as a 5, the corrective wave as a 3."
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Sorry tenny, I missed answering this. ......... YES

It gets more abstruse after the above overriding basic concept of a 5 up, 3 down. For example in a Wave 5 or C, both being motive waves, they can subdivide into 3 and confuse the daylights out of us.

For now stick to the basic basic concept. The rest will come soon enough.

CAUTION:

The premier gang that does Elliottwave counts is wrong 90% of the time. A disgrace. So just know this: its a minefield, believe nobody, figure it out for yourself after you grasp just the basic basic
 
For tenny,

Pull up your SPY monthly. Counting/reading waves is far easier on larger timeframes.
Start with 2007 top to 2009 low and then the firstvwave rally to 4/19/2010.

Count the waves. Usually the count will hit you almost immediately. Then dwell on why it is that way.

There are no gurus in this field. The universe humiliates us all with just the flick of its wrist.

Give it a try.
 
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Beautiful .618 correlation between wave 1 and wave 5. I hope (C)arl is ready today...
 
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