Dow-Adjusted Elliott Wave Count
Ian Andrews
Professional Freelance Writer | Certified Copywriter, Creative Blogger | 13+ Years Experience *** Professional Elliott Wave Theory Analyst | 33 Years Experience
On Dec. 13th, 2023, the DOW broke above its previous all-time high of 36952.66, on Jan. 2nd, 2022.
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This precipitated a change in its Elliott Wave count.
It was: a TOP on Jan. 2nd - Supercycle Wave 5, GSC Wave lll, then DOWN into Intermediate Wave (1) (?) on Oct. 13th @ 28660.94; followed by an upward move to the present, 12.27.2023 – Int. Wave (2) (?).
However, wave 2 cannot exceed the beginning of wave 1, which is exactly what the DOW did. So, waves (1) and (2) had to become waves (A) & (B) – the beginning of a “flat” {maybe even a triangle, w/ waves (D) & (E) to follow }.
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All other major indices have NOT exceeded their previous all-time highs, as of yet. The S+P500 is very, very close, only 33+ pts short as of today, 12.27.23. It’s hard to think it won’t break above like the DOW. But, for the moment it hasn’t. The Nasdaq Comp and the NYSE are moderately close; the Russell 2000 is comfortably below its previous high.
These indices all sport the (1) – (2) Elliott Wave count – until they break above, if they do.
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领英推荐
The whole basic premise that this up-move since Oct. 2022 is a Bear Mkt upward correction stems from an Elliott Wave count that says Jan. 2018 was the top of wave 3; a 4th-wave triangle followed, into the Covid low of March 2020 {triangles are the “next-to-the-last-move”, i.e. wave 4, or a ‘B’ wave}; this was followed by the requisite 5th wave thrust up – into Jan. 2022. This count “holds” to the present day.
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NOTE: my Tractal? chart shows the momentum/extremes of Jan. 2018 -Wave 3, & and wave (2) Dec. 2023 – a 6-year span, the left and right sides of the chart.
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