The market is still keeping its options open. If we assume that the FED has been taught a lesson by the market response to its cavalier attitude, then obviously a bullish take can hold water.
The bullish take sees Minor wave 3 in progress and moving on just above the half way mark of Minor wave 3. The price of Minor wave 4 cannot enter Minor wave 1 space, but an eventual return to this current level is quite possible before Minor wave 5 commences. Probably in sync with the elections.
The use of the SWIX index gives less of the aberrations caused by offshore listed heavyweights. Elliott theory prefers natural, unadulterated markets with lots of participants and no whales.
No comments:
Post a Comment