Elliott Wave: Week of 6/11/18 - Don't get too comfortable
Things finally moved upward after a slight delay from the situation in Italy. Seems like long ago, but was worth the wait.
Expectation is wave 5 carries to new all-time high (ath), but of course in non-linear fashion. I've made a few rough estimates using primary and alternative measures based on wave 1 and 2 of the current move up for wave 5. They all seem to gather in the 2980-85 area. Too early to focus on that for now.
As for timing, my estimates are too wide for comfort. I'm still focused on the nearer term estimate and not comfortable beyond July at the moment. We all know what comes after wave 5, where the only question is size.
Even with expectation for new ath, I suggest not getting too comfortable.
Expectation is wave 5 carries to new all-time high (ath), but of course in non-linear fashion. I've made a few rough estimates using primary and alternative measures based on wave 1 and 2 of the current move up for wave 5. They all seem to gather in the 2980-85 area. Too early to focus on that for now.
As for timing, my estimates are too wide for comfort. I'm still focused on the nearer term estimate and not comfortable beyond July at the moment. We all know what comes after wave 5, where the only question is size.
Even with expectation for new ath, I suggest not getting too comfortable.