OK… Since no one calculated the number for which I revealed the formula to Sir Don and “blabbed” it, and now that we’re 135 points BELOW it, here it is… the Jan ‘22 cfd SPX high was 4819.8. The Oct ‘22 low was 3492, equaling a move of 1327.8. That move into the low was the A WAVE in an ABC Expanded Flat. In a flat corrective wave, B can be no more than 2 times the length of A, as seen here: forex-indicators.net
So 1327.8, added to 4819.8, equals 6147.60. Alternately, 2 times wave A’s 1327.6 = 2655.6, and added to 3492 equals 6147.6. Someone please tell me if I’m wrong, but Wednesday’s high from 2 days ago, February 19th, peaked at 6147.43... .17 SHY OF THE NUMBER IT COULD NOT PENETRATE due to the EWave Flat Corrective RULE. What are the chances that the SP500, fresh off a 320 point rally off the 5827 low on January 10th, would stop .17 SHORT of violating the maximum potential, then collapse 135 points in 48 hours, if this Elliott Wave read was incorrect?
Those SAME Flat Rules tell us that Wave C, which we’re now no doubt In since Wednesday’s high, can be no more than 2 times the length of B when B is longer than A (which it was). Now that B is complete, we know its length… 2655.43. Twice that length, 5310.86, is the MAX POTENTIAL for Wave C, subtracted from its 6147.43 start equals 836.57. That’s how low the SP500 CAN GO. Will it go the max just like wave B did, or will it travel the MINIMUM REQUIRED, which is back into the territory of Wave A, below 4819.8? Only Da Chief knows for sure, and he ain’t tellin NOBODY!!!<g> |
