Overview: it's been a few weeks that the price action has been really tricky to count. Until yesterday, we had the idea that we have peaked for wave b of Z and have started wave c of Z, which was invalidated yesterday.
Update: with the higher high made yesterday, I am considering the following scenario: we have completed a triple zigzag in wave b. One thing that is worth noting is a fact I mentioned on the update of Nov. 14th: I have 4132.75 as the potential target for wave b peak. The peak of yesterday was 4132.22!
Note: A very important challenge for the readers is to prove this statement to practice HEW: the hourly count I published on Dec. 8th and the current hourly count has the exact same structure of subwaves. So, we have basically not changed a lot on the hourly count, just the labels were changed because of the higher high made yesterday.
Note: I repeat a valid point made on my Dec. 1st update: "There is a very important point in this count, as I warned before, this count can turn into an impulsive wave with equal probability and validity, meaning the bottom is in (this is a fact in the Harmonic Elliott wave theory that a triple zigzag can be also an impulsice wave since they both have the same structure of subwaves). How do we know which count is playing out? for now, we don't really care, both counts point to the fact that we should still head higher and get rejected probably mid-December to go lower. The structure and extent of that pullback is what determines the correct scenario."
Note: the broadening triangle on NDQ is a very bearish formation, but it needs breakdown through the lower trendline to confirm.
Update: with the higher high made yesterday, I am considering the following scenario: we have completed a triple zigzag in wave b. One thing that is worth noting is a fact I mentioned on the update of Nov. 14th: I have 4132.75 as the potential target for wave b peak. The peak of yesterday was 4132.22!
Note: A very important challenge for the readers is to prove this statement to practice HEW: the hourly count I published on Dec. 8th and the current hourly count has the exact same structure of subwaves. So, we have basically not changed a lot on the hourly count, just the labels were changed because of the higher high made yesterday.
Note: I repeat a valid point made on my Dec. 1st update: "There is a very important point in this count, as I warned before, this count can turn into an impulsive wave with equal probability and validity, meaning the bottom is in (this is a fact in the Harmonic Elliott wave theory that a triple zigzag can be also an impulsice wave since they both have the same structure of subwaves). How do we know which count is playing out? for now, we don't really care, both counts point to the fact that we should still head higher and get rejected probably mid-December to go lower. The structure and extent of that pullback is what determines the correct scenario."
Note: the broadening triangle on NDQ is a very bearish formation, but it needs breakdown through the lower trendline to confirm.
