almost election tuesday, page-24

Volt, I've been observing your EW wave counts with heightened interest. Here's an extract of the latest update from EWI on the US markets.

"Based on the recent pattern of selling climxes, as well as other momentum and sentiment extremes, EWI are elevating the probability for the truncated (ie, failed) fifth scenario to equal status with the triangle potential, and slightly lowering the upward flat scenarios. They slightly downgrading the flat patterns because they imply that waves three, four and five of Minor wave 5 to the downside still lie ahead and they don’t think the market has that much near term downside potential based on the extreme in selling climaxes. However, the market could experience a sharp downward thrust and subsequent reversal, which would be consistent with the fourth-wave triangle potential, so that remains a strong potential."

In other words, the jury is out whether we've seen the medium term low or not but we should soon find out.