I am starting a new thread for 2012's first half year (Jan - Jun), including EUR, SP, Gold, and JPY. My previous wave counts can be found from: http://www.elitetrader.com/vb/showthread.php?s=&threadid=228108 Elliott Wave reference can be found from: http://en.wikipedia.org/wiki/Elliott_wave_principle My labeling for wave degrees in different time frames: Monthly - [[]], [[[II]]], [[[III]]], [[[IV]]], [[[V]]], [[[A]]], [[]], [[[C]]] Monthly - [], [[II]], [[III]], [[IV]], [[V]], [[A]], [], [[C]] Weekly - , [II], [III], [IV], [V], [A], , [C] Weekly - I, II, III, IV, V, A, B, C Daily - 1, 2, 3, 4, 5, a, b, c Daily - _1, _2, _3, _4, _5, _a, _b, _c Hourly - __1, __2, __3, __4, __5, __a, __b, __c My labeling for wave formation in a segment = Wave Name + Wave Formation For example, [A3] = 3 segments in a wave [A] For example, [A3][B3][C5] = 3-3-5 formation for waves [A][C] My labeling for zigzag is the combination of R.N. Elliott's classical labeling and my wave formation labeling. DO NOT USE R.P.'s W-X-Y(-X-Z) labeling because it creates confusion and lacks the flexibility of changing wave counts. I am getting lazy on updating the counts because I don't know how many people are following. I might stop writing this at anytime. If you are an audience of my threds, please PM me to let me know so that I won't forget to keep you updated if I stop writing.
I just noticed that I had a typo in gold's month chart. The final target of gold's super bull market could be $1,960. The extension wave [[[V]]].[[IX]] should be labelled as [[[V]]].[[E]].[IX].
01/01/2012 SP Monthly Chart Again An alternative count: [[[A]]].[[C]] becomes [[[[IV]]]] [[]] becomes [[[[V]]]] [[[C]]].[[C]] becomes [[[A]]] [[[D]]].[[C]] becomes [[]] If this is the scenario, we are in [[[C]]] now, and it could go to 550-650 when it finishes.
Waves [[[A]]]-[[]]-[[[C]]] are not 3-3-5. [[[A]]] is definitely a 3. [[[C]]] is highly possible a 3 too. [[]] could be a 3 or a 5 depending on how we see it. [[[D]]] and [[[E]]] are part of [[[[IV]]]], where the assumption is that they are in a wave-4's abcde triangle. (See above chart.) The purple line has the assumption that [[[A]]]-[[]]-[[[C]]]-[[[D]]] have completed, and now we are in [[[E]]] to form [[[[IV]]]]. An alternative count is that [[[A]]]-[[]]-[[[C]]] has completed the [[[[IV]]]], and we are in the early stage of [[[[V]]]].
Rothschild - I would guess that SP spot index 1320 area could be where the reversal starts. We need to pay attention if SP ever moves to that area to see if there is any sign of exhaustion.
Long term EW count question. Could 1987 be a end of wave 1, (approx) 2000 end of wave 3, 2008 end of wave 5 ? If so, then could 2009 bottom be wave A , 2011 top end of a 'B' ? and where would a projected wave C end ? Thanks !
jas_in_hbca - It could be. As I believe and mention many times that anything is possible. With that scenario, we are going to enter a long term bear market soon. That bear market could have 2.5 more years to go, and it's final destination of the bear movement will be after falling below 2009's low.