Elliott Wave Update ~ 12 June 2014
The 1915 - 1926 target range mentioned last night for wave (iv) of (v) has already been met. However it doesn't look completed if this is wave (iv). Not enough time nor does it count as a three.
The "rule" is that wave (iv) cannot enter the price range of wave (i) of which the orthodox top is 1884.89. However wave b of (ii) actually exceeded that at 1902.17. So in reality any further pull back really shouldn't be heading that low for it to be a wave (iv). This count would be highly suspect if it had pulled back as far as 1900. If it does, then consider the cycle wave b count complete.
The "rule" is that wave (iv) cannot enter the price range of wave (i) of which the orthodox top is 1884.89. However wave b of (ii) actually exceeded that at 1902.17. So in reality any further pull back really shouldn't be heading that low for it to be a wave (iv). This count would be highly suspect if it had pulled back as far as 1900. If it does, then consider the cycle wave b count complete.
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