The chart showing triple-zigzag should be modified to show this peak as the top of the triple. The small abc last on that chart was just part of the down correction of the 2nd zigzag.
But the new high has already gone above this morning's high (retraced to beyond the beginning of wave i in your chart), so the triple zigzag count must be invalid. Looks to me like we're impulsing higher.
I have the bottom of Minor 1 was on July 1st, the early August high was a of minor 2 (which happened to be a leading diagonal, the low of late August as wave b on minor 2, and we are now in the final c wave up of minor 2 up. Minor 2 ends up being a ZZ.
This is just insane, Its time for the YEN to step in. I guess the FED tomorrow not need mention any QE as the market and such the economy is booming. Market can then crash.
But the new high has already gone above this morning's high (retraced to beyond the beginning of wave i in your chart), so the triple zigzag count must be invalid. Looks to me like we're impulsing higher.
ReplyDeleteI have the bottom of Minor 1 was on July 1st, the early August high was a of minor 2 (which happened to be a leading diagonal, the low of late August as wave b on minor 2, and we are now in the final c wave up of minor 2 up. Minor 2 ends up being a ZZ.
ReplyDeleteSteve
This is just insane, Its time for the YEN to step in. I guess the FED tomorrow not need mention any QE as the market and such the economy is booming. Market can then crash.
ReplyDeleteAdditionally, if this count is correct, we top out this afternoon, or early tomorrow AM.
ReplyDeleteI am also keeping an eye out on those bonds, which are not confirming this move up in equities.
Steve