SUMMARY
Technical Analysis is merely a process of identifying as many possibilities, narrowing them down to a handful of probabilities and selecting the primary and alternate counts. I have consistently said that awareness keeps the panic and FOMO away. Being aware of these alternates allows one to first be rarely broadsided but more importantly react accordingly to any change. Awareness can help prevent a trader from bouncing back and forth like a pin ball between panic and euphoria; while seeing his account go to zero. There is no happiness to be found in unawareness!
To that end, as I've been presenting for several days, the below chart is my primary count. I believe we are due higher highs.
The below pretty much supports my primary count but in a slightly different pathway. This is the broadening pattern which I've often affectionately referred to as the Jaws of Wealth. Price is bouncing off the bottom line and I've laid out the Elliott Waves and midterm targets that pretty much jive with my primary count.
Here is my next alternate count which shows that price is merely bouncing off the red A wave and now completing the red B waves. This means that if C wave decline starts, then a five wave impulse down could lead to a low of $8,350. I'm seeing the permabears coming out and preaching this like it's the gospel of certainty. Perhaps having alternate counts into awareness could be helpful for them.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**