Elliott Wave Update ~ 23 Feb 2022

If this last major horizontal support is lost, prices should tumble very quickly in wave [iii] of 3 down. The selling has been very orderly so far.

Technically, the Composite has confirmed a 5 wave move down at the very least.

The DJIA also has a lower low today. Probably the best count is the ending expanding diagonal triangle as pointed out by Robert Prechter of EWI.