Wednesday, October 2, 2013

Charts 10-02: Ending diagonal revised

I think the ending-diagonal call is correct up here, but I think I got the scale of it all wrong.

The 10/8 Bradley turn is most likely to be a bottom.  I'm looking ahead to the 11/3 Bradley turn and November New Moon a possible 5th wave top for the diagonal.

The trendline from 1709 through 1729 ends up in the 1750 region, another month away.  It makes for a nice sequence of waves.

SPX 10-02

The proposed ending-diagonal 5th wave here is the terminal pattern for an even larger terminal pattern that began at SPX 1266:

Having a few extra weeks here does not put 1778 back on the table, however, because it would make the 3rd wave of the sequence the shortest.  That's one rule we will not welsh on here.

1 comment:

Bryan Franco said...

Interestingly, the DOW just touched the 76.4% retrace of the corresponding 4-th wave that you have for SPX. Seems to have the same Ending Diagonal form as SPX. Let's see if it holds.