Jun 25, 2018

Update

Impulse should look like this on the chart..... looking at other indexes I think it will be finished, but lets wait for confirmation.

31 comments:

  1. Hi Krasi
    in your opinion, how would this expected impulse wave down fit into the overall wave count? would this then be a wave C ie the Feb wave up (March) then down (April), then up (Jun) is likely a B?
    thanks again for sharing your expertise and thoughts.

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    1. I can only guess way too many corrective waves.
      Either this or something more complicated - https://imgur.com/a/4Pv73R3

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  2. I've been following you for about a year now and enjoy/appreciate your work.

    What does the term "impulse" mean? I just want to have an accurate understanding of that particular term that is used so often here.

    Thanks.

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    1. An impulsive wave generally follows the trend and is has pretty clear direction. Corrective waves are pauses in impulses where there is more of a sideways price movement before the trend resumes with an impulse. Look at the chart above from about May 6th to 14th. That has an impulsive move up, corrective move, then impulsive. Then if you look at the move after that from May 14th to June 4th, you'll see it is corrective.

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    2. This is Elliott wave term - the market is trending in the direction of the impulse.
      Impulse in the opposite direction means reversal and more to follow.

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    3. Krasi are u expecting a drop into friday

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    4. I expect one more low, but I can not say if it will take time until Friday.

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    5. 2670-2680 first then higher to 2740

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  3. NDX - Assuming we have seen the top of wave 3 of V; are we looking at a target of about 7460 for 4 of V? Just curious if I'm look at this correctly.

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    1. If we have an impulse for wave V one more low should finish 4 of V and yes the target for 5 of V is around 7460 two measurements and one points to 7530.

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  4. Does this move higher change the picture in the near term?

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    1. SPX looks like overlapping for the impulse and the other indexes no change.

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  5. looks like 2750 then down we will see

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  6. Gosh, that 4H candle looks horrible

    Regards,
    Mily

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  7. Are we looking at a potential buy or entry point coming as early as Friday of this week? Or is the following week more likely? What do you guys out there think?

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    1. I think move lower should last a few weeks. Of course a bounce higher is coming, but I do not think this is intermediate term low just short term bottom.

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    2. Do you think impulsive 3 wave is finished at around 2697 and wave 4 bouncing should be there to what target? Thanks.

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    3. It looks like finished impulse and move higher has begun.

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    4. i dont think s and p goes lower than 2674

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    5. What do you think about the wave 4 bouncing target? Thanks.

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    6. 38%-50% retracement around MA50 on the hourly chart.

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  8. Krasi you said move higher has begun. Where does this move higher go to?

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    1. Too weak so far it still could be wave 4 if we do not see strong rally today.
      Resistance is 2740-2760.

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  9. It is still in an upward channel.

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    1. The problem is the angle of this channel. It looks more like bear flag than a strong move not to mention the overlapping.

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