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Elliott Wave Focus / Index Insight
      by Paul Strunk

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This is the current favored count for the long term daily chart.


The favored count has the highest odds of being correct.  When  there is a viable alternative, that count is also shown in  the Forum.

This chart brings us up to date near the end of Primary [3].  The target for Primary [3] of 2500 was set in July 2016.  We are closing in on the target.  We may fall a few points short.

The target for Primary [4] is approx. 2322.   Fours can take many patterns and last a long time depending on the pattern it takes.  

The charts for all time frames are found in the Forum.


9/1/2017

As I stated previously the target for the end of Primary [3] was set in July of 2016 at 2500.  I missed that target by 10 points.  But as I said when I posted the previous chart we may fall a few points shy of the target.


Now that Primary [3] is complete we need to consider Primary [4].  The most common pattern for  a four is a flat.  So this is what I will expect until proven wrong.  


Note the chart below presents four as a flat.  Wave four flats will commonly reach the end of the previous four of one lesser degree.  60% of the time a wave four will retrace wave three between 30% and 50%.

The chart illustrates these expectations.


Remember that these predictions are based on the most common actions of a wave four.   Wave fours can take about 12 different patterns and combinations of patterns.   The proper way to approach a wave four is to expect it to take the most common course while staying aware of the options that may prove correct if it does not.


The charts for all time frames are found in the forum.


9/17/2017 Update:

I wanted to make you aware of two options for this Primary wave [4].

I believe we have just completed the B wave of an expanded flat.  We will now go down in the C wave.

This ABC expanded flat could be all of [4] OR it could just be A of an expanded flat [4] as pictured on the 9/1/2017 chart.  In both cases of course we will now fall in a C wave.

When it is complete we will rise to near the area we  are now.  IF that first ABC is all of [4] we will just continue on higher in Primary wave [5].

My preliminary target for Primary [5] is 2600.

The  second most common pattern for a four is a triangle.  This possibility still exist for this Primary four.  It would actually satisfy the guideline which states that twos and fours of the same degree in an impulse usually alternate patterns.

In any case the next move is down.  It will be 5 waves long.