Putting on my bear hat this morning and reflecting on how difficult the move up from October 2022 low has been to interpret, from an Elliott Wave perspective.
If you were trying to convince yourself of a major market top and completed five-wave impulse, I think this is how you'd have to do it. Wave ((5)) ends of being an expanding ending diagonal off October 2022 low.
The price action off the October 2022 low has just been "weird". If you are a bull, you might see a leading diagonal and running flat to get wave ((5) started. Bears likely see double and triple-threes until the move up off October 2023 low.
I think the thing that supports this idea the most is the parallel channel that connects waves ((1)), ((3)), and ((5)) and supports ((2)) and ((4)) of this proposed wave count.
I'm not saying this is my primary count, but it is a count I am following.
If you were trying to convince yourself of a major market top and completed five-wave impulse, I think this is how you'd have to do it. Wave ((5)) ends of being an expanding ending diagonal off October 2022 low.
The price action off the October 2022 low has just been "weird". If you are a bull, you might see a leading diagonal and running flat to get wave ((5) started. Bears likely see double and triple-threes until the move up off October 2023 low.
I think the thing that supports this idea the most is the parallel channel that connects waves ((1)), ((3)), and ((5)) and supports ((2)) and ((4)) of this proposed wave count.
I'm not saying this is my primary count, but it is a count I am following.