THE COUNTS
The overall market breadth is weak. The NYSE made a new all-time high today and the up volume vs. down volume was only a ratio of 1.75:1. The advancing stocks vs. declining stocks ended the day at a ratio of 1.57:1.
It only makes sense to tweak the Wilshire 5000 to a somewhat similar subwave count. And once we did so, it fulfills all Elliott Wave rules and guidelines the best.
There really is not much changed other than adjustments of where certain subwave degrees are labeled. This is still labeled as an extended wave (5) regardless.
That is not to say the primary count of Minute [ii] from yesterday is completely abandoned. For if the market fails to make a new all-time high on the Wilshire we may indeed be seeing a “double-top” situation whereas if the market crashes anyway (which is the ultimate projection regardless) we can sort the overall count out later.
Who cares? The market will crash when war comes. if this is the 7 year tribulation it will certainly happen.
Regardless, here is one potential fulfillment of the “Double top” whereas the Wilshire fails a new all-time high.
