Next Leg Down, Top Next WeekLooks like Minor wave A likely finished today, next up is Minor wave B. Models point to 18-22 hours of possible duration which will likely see the bottom on Thursday. There are a three pockets of interest for the bottom. I used the green box (4281-4294) for the more conservative zone, yellow (4255-4275) for the more aggressive zone and my target is the white box (4270-4285) straddling both boxes. Depending how Minor wave B plays out, Minor wave C and Intermediate wave 4 are currently projected to end early next week between 4355-4390.
METHODOLOGY:
I operate a modified wave theory composed of Dow Theory and Elliott Wave Theory. All data is determined from comparing current wave locations with historical wave relationships. The listed percentages are based on previous movement extensions and retracement quartiles of the data. There is too much data to list all points but overlap of the quartiles based on specific relationships tends to point to more likely targets. The light pink levels are based on most specific data, light blue is slightly broader, and yellow levels are the broader set of data used. A red level typically indicates maximum historical move for the current wave throughout the historical data.
