I've labelled the "alt count" as such, even though I favor it best. For me, it's not a matter of making the right call, as much as it is, knowing the difference. Either outcome will be decided by the market, and we shall see! My intent is to offer as much detail and insight as possible! I'm forever a student of Elliot wave, so here's to learning!!! Have a great day!
Yeah! Wave C (option 1)can drop down extremely low to complete the "Z"(triple zigzag), which would complete the correction for wave 4 (as I see it).
Option 2 would be an a,b,c correction but not take out the low of "wave Y', which would be a 2. In order for that to be a "2", it CANNOT go lower, it can come within a penny, but not lower.
If I'm understanding it correctly, we are in motive wave 5, of corrective wave C, in corrective wave Z... yes?
And this wave 5 motive wave could terminate at resistance points of $9,150, $7,500, or $6,850?