This comparison of the Top 40 index and the Top 40 Futures shows that the avoidance of Futures charts by Elliott practitioners is well-founded.
The hourly Top 40 (J200) chart has not entered Minor wave 1 territory. There is divergence support for the wave 3 and 4 assignment along with a conventional structure within Minor wave 3.
Next: Unlike the underlying index (above), the 2-hourly Top 40 futures chart has entered Minor wave 1 territory. Thereby Minor wave 3 remains active and the commencement of the final minute wave [v] of Minor wave 3 is indicated. The internal structure of the incomplete Minor wave 3 is untidy.
No comments:
Post a Comment