Not sure it was posted here since I just started. But soon you will have all the data and not left out of the loop on things that was mentioned at the blog before posting here.

Anyhow 1290-92 was target.

Now the other way sort of. I figure this is still wave four of the up motion. Most likely wave five will fail here.

I expect around the 1277 should end wave -c- here of the fourth wave. Then a bounce for the fifth and then farther south.

Notice the hook formation or -1-2- fromation at the top inside the trendline before breakout. This is one pattern that happen inside or at trendline before market turns.

Also, notice the fractal on the far left where the dark blue line is horizontal at. The analyst must watch these as every trader targets them for market bounces or change. Ussually the first or the last one in the series is the critical ones for turns.

The sharp trendline coming down is to find the fourth wave. According to Elliott if an analyst draws a line off of the beginning of wave one and end of wave two, wave four will just touch or pierce it before finishing wave five. Of course if you have an wave -a-b- instead of one two it will not touch.

Will have time to watch the pattern now and see how it develops before to many decisions have to be made.

charleydan
www.sillywaves.blog.com