Tuesday, August 4, 2009

ES

This is what I'm looking at currently. This structure appears to be an ending diagonal for the minute [v].

The 78.6% projection would be a perfect spot for completion. This would entail a move over the boundary line, which is known as "throw-over", as pointed out on p. 38 in Elliott Wave Principle.

"A rising ending diagonal is usually followed by a sharp decline retracing back to the level where it began and typically much further.", p. 38 Elliott Wave Principle

If price prints 1015.75 then this pattern is not valid, as this would make wave (iii) the shortest.

Here is what the Ensign Map is forecasting. It has been spot on so far today.

That should change if this diagonal finishes tracing.






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