A lesson in subwave paths

Good illustration of how I short-hand and "hint" at some alt subwave paths inside a larger EW count.

I use white as often as possible as my Primary count. We know that EW works by degrees and as you drill down to smaller and smaller degrees the subwave paths inside larger structures can get messier i.e. more variability.

I firmly believe that our 4th of (3) is not complete. The most probable path for a reliable 4 is a circle abc move to at least 4180-4150 but that could easily be only the a as one of our guidelines for possible 4th wave support is down at 3980.

What I was counting as (c) of circle a of 4 stopped short of normal targets. That creates room for some alt paths.

It could have been all of (c) of circle a and we are already in the circle b (I think NQ counts better this way) but that is not clear on SPX so I faded that to a little greyish. This recent bounce could also be either an orange wave ii of a more extended (c) that could target all the way down to 4100 region, and if so I would be more inclined to just count that as the circle c of all of 4 (green). The bounce could also be counted as a purple b of a more complex combination patterns as a (w)(x)(y) for circle a. This would likely find similar support to the original target for (c) of circle a in the 4200 region.

SPX.XO - Uber Accelerated Bullish - Oct-08 0934 AM (1 hour)
SPX.XO - Uber Accelerated Bullish - Oct-08 0934 AM (1 hour)
Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.