Not A Lot To Add


The market seems to be meandering again, and it is not providing much more for me to add to the analysis.

The one thing that is standing out a bit right now is that this pullback is seeming a bit too large for it to be a 4th wave in the yellow wave 1 of yellow wave (v). So, I would have to conclude that this count is becoming even less probable at this time.

Also, with the action we are seeing today, it does fill in a nice wave (1) down in the blue c-wave of wave 3. And, as long as we hold over 7670ES, then I can reasonably expect more of a wave (2) bounce. But, overall, the blue count pointing lower still remains my preferred path for now.

5minSPX
5minSPX
15minES
15minES
60minSPX
60minSPX
Avi Gilburt is founder of ElliottWaveTrader.net.


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