KevinMangini

VNQ + some armature (at best) Elliot Wave. Upside coming?

Lång
AMEX:VNQ   Vanguard Real Estate ETF
Assuming my Elliot Wave skills are somewhat on par here... I grabbed a candlestick bar pattern from the previous 5 wave, inverted it and matched up the pivots (which also happen to be a very clear head and shoulders patterns. If history rhymes here I'm thinking some VNQ upside is in the cards? Also note the Market Cipher B. red money flow wave is nearing completion and anchor waves are printed. Assuming we get 1 more pullback that could make for a really nice trigger wave to set it in motion. RSI's are gapped and pointing down which would usually indicate a swift and very temporary downward move
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