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Wednesday, November 16, 2011

November 16th Update

S&P 500

The market still appears to be on track to meet up with the lower boundary of the triangle.  Despite the newsworthy bullish reversal intra-day, it simply looks like it could be a second of five waves down to complete the final leg of the double zigzag formation terminating subminuette wave e.   Said another way, starting from the termination of d we'll have (a-b-c)-X-(a-b-c) down more correctly labeled as a W-X-Y combination.  I expect the final Y wave to clearly subdivide into five waves similar to what I've drawn.



Posted by Waverunner (FractalTrader) at 12:00 PM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))