Elliott Wave Update ~ 12 Oct 2022

The best 2 counts are still the same as yesterday. Either Minor 1 finished a few days ago at the intraday low, or it has a bit more to go. I prefer it finish lower, but either way, the structure is solid.

The Dailys are showing double positive divergence still. If a hard rally bounce Minor 2 plays out starting tomorrow, expect prices to go a bit above the previous Minute [iv] peak of Minor 1 of (3) down to form a healthy Minor 2 of (3).

The DJIA has been diverging from the other indices. It too would look better to make a lower low so that we have a solid 5 waves down from (2).