markrivest

SPX Running Triangle

SP:SPX   Der S&P 500 Index
127 3 8
This is the follow up to my post on the SPX             Developing Impulse Wave from 2/11/16.

The sub waves of the supposed Minute wave "IV" Running Triangle are as follows.

(a) = 43.90
(b) = 67.40
(c) = 33.80
(d) = 21.90
(e) = 17.40

The Fibonacci relationships between the waves are as follows.
67.40(b)/43.90(a) = 1.53
33.80(c)/67.40(b) = .50
17.40(e)/33.80(c) = .514
21.90(d)/43.90(a) = .498
17.40(e)/43.90(a) = .396

The Fibonacci sub wave relationships of Minute wave "IV" support the proposition that the SPX             is forming an Impulse wave from 2/11/16 and that Minor wave "3" is nearing completion.


Mark
hi mark, thank you, the numbers @ (a) etc .... what do they stand for ? how do you calculate them ?
thank you
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markrivest DaxiDriver
Hi @DaxiDriver,


The numbers for each sub wave for example Minuette wave (a) are calculated by measuring the distance from the sub waves point of origin to its termination point.
The point of origin for Minuette wave (a) is the termination point of Minute wave "III" at SPX 2277.50 - 2233.60 the termination point of Minuette wave (a) = 43.90.

The terms Minute wave and Minuette wave are used to describe the degree of the Elliott waves.

For more information please read "Elliott Wave Principle" by Frost and Prechter.

Mark

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DaxiDriver markrivest
@markrivest, thank you !
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