An analyst needs to always be asking this in corrective waves. Because if a wave is missing an wave the count can change in the next move.

Trendline 1: forms a diagonal triangle fifth wave. These waves are easily identified if the analyst is making trendlines. Most do not and most analysts do not recognize them.

Trendline 2:The one drawn on last chart and the market sure held to it till breakout and pretty typical with fifth wave diagonals.

Trendline 3: The trendline off of wave -1-2- or -a-b-. I am calling it wave -a-b- and the reason is the pattern off of the 1275 up is an -12345- pattern. That means it is only the beginning of the correction or wave -1-.

The reasoning is that I mainly content to the idea that the fractal at wave -e- was broken significantly and therefore will go to next fractal. I will hold to that thought till the market breaks lower to show me wrong.

Trendline 4:Channels a perfect wave -12345- pattern. The draw back at end of day is an -2- wave. It may not be complete, but I do believe the low for that correction is in. In other words I am suspecting an runninng -2- wave. Will see.

Horizontal blue lines are fractals and significant points for EW turn points. So at those points the anlayst needs to look back and see the pattern formed.

The first hurdle is to break thru trendline five.

charleydan
www.sillywaves.blog.com