Elliott Wave: Week of 5/29/18 - What happened? (where are we ?)
How do you explain 2018 thus far? Up, down, nowhere.... What happened and where are we? The headlines say, employment costs and interest rates (Feb), trade/tariffs (March), Noko/no go (May). What next? Resolution of the first three, or more DOJ/Trump news? Stay tuned...meanwhile,
I've taken a look backwards to figure out what to look forward to. I'm continuing my work with cycles, timing, and related factors and thought I'd look for insight back to the "impulse" of 3/2009 to understand how it still influences today. Surely investors recall the Global Financial Crisis (GFC) and it still carries weight in investor considerations. More recently investors understand the events of Jan/Feb 2018 and are attempting to understand what's next.
Working backwards, the shock of 2018 is stabilizing (lower highs and higher lows) into a recent narrow range (2710-2740). Another "impulse" within the 2/2016 wave is needed to move things along (upward as wave 5). Note how the bottom of 2016's wave 4 (Jan/Feb 2018) aligns with the .786 Fibonacci area of the 2009 impulse at 2532/3. The effect of the decline is exhausted and now allows for a positive impulse as wave 5.
Targets for wave 5 are at the 1.00 Fibonacci levels for the lower and higher degree waves, being 2911 and 3041 respectively. Now, how do we get there?
Have a great Memorial Day holiday, and thanks to all who serve our country - past and present.
I've taken a look backwards to figure out what to look forward to. I'm continuing my work with cycles, timing, and related factors and thought I'd look for insight back to the "impulse" of 3/2009 to understand how it still influences today. Surely investors recall the Global Financial Crisis (GFC) and it still carries weight in investor considerations. More recently investors understand the events of Jan/Feb 2018 and are attempting to understand what's next.
Working backwards, the shock of 2018 is stabilizing (lower highs and higher lows) into a recent narrow range (2710-2740). Another "impulse" within the 2/2016 wave is needed to move things along (upward as wave 5). Note how the bottom of 2016's wave 4 (Jan/Feb 2018) aligns with the .786 Fibonacci area of the 2009 impulse at 2532/3. The effect of the decline is exhausted and now allows for a positive impulse as wave 5.
Targets for wave 5 are at the 1.00 Fibonacci levels for the lower and higher degree waves, being 2911 and 3041 respectively. Now, how do we get there?
Have a great Memorial Day holiday, and thanks to all who serve our country - past and present.