Dec 7, 2013

Another EW chart

Tomorrow I will post the weekly review...

XLF another proxy for SP500... again I can not see an impulse, either I have no idea of EW or I have put my bearish glasses:)
XLF chart from the 2011 bottom(the second part of this cyclical bull) - I see three wave sequences.... W-X-Y and triple zigzag for Y which should finish in the next several days.
Proportions look very good - The black waves Y=1.74xW | The red waves W=Z=3 Y=5.4=1.8x3 X=1.3/1.7 | The blue waves A=C=2.3 (C finishes ~21.8)

And the closer look of the last wave z - one final high should finish the ending diagonal for "c" of "z" of "Y". Divergence between "a" and "c" and between 3 and 5 of the ending diagonal.

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