Trying to make heads and tails of the price action in the markets. The Elliott Wave count I’m getting is a series of running b waves with lower highs unfolding with an oncoming major wave down right in front of us.
Monday is Martin Luther King day with the US markets closed. I’m expecting a rally above the Minuette a wave highs of mid-December and a challenge of the 61.8% retracement from the October highs before the next sell-off starts. If price action gets above there and especially above the 2800 top, I would expect the market to then go on to make new highs, though cyclically we are not in the right time frame for that…
Monday is Martin Luther King day with the US markets closed. I’m expecting a rally above the Minuette a wave highs of mid-December and a challenge of the 61.8% retracement from the October highs before the next sell-off starts. If price action gets above there and especially above the 2800 top, I would expect the market to then go on to make new highs, though cyclically we are not in the right time frame for that…
