@ 4 PM
That was a quick Minute 4th wave.
By noon it looked like we had several options.
All but one have been ruled out by 4PM. No triangle, no sideways, but an abc zigzag.
5 waves up are very clear on the DOW and the SPX.
Right now they are labeled as Minuette, but most likely they are subminuette.
That gives us a target of 1350 in March. (C) = .618 X (A) in price and time then.
@ 1 PM
The strength of this move makes it a wave 3.
@ 12 Noon
That was a quick Minute 4th wave.
By noon it looked like we had several options.
All but one have been ruled out by 4PM. No triangle, no sideways, but an abc zigzag.
5 waves up are very clear on the DOW and the SPX.
Right now they are labeled as Minuette, but most likely they are subminuette.
That gives us a target of 1350 in March. (C) = .618 X (A) in price and time then.
The strength of this move makes it a wave 3.
@ 12 Noon
Interesting development today. Increases the options.
Option 1 : Friday low was the end of minute 4. We have minute 5 unfolding, minuette 3 in progress.
Option 2 : We have an abc flat for minute 4, we are just finishing wave b. We should be able to rule out this pretty soon if the market continues to move higher. Expanded flat is also possible.
Option 3: A triangle is still possible, but should be ruled out if the market continues to move higher.
Rest of the day should help in narrowing our options.
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