Charts, page-911

@Medicalcentral ... Yes(there abouts), but if the SP does stagnate somewhere near here/there I would only expect a small/medium-term correction in both Time and Price(say 1-2mths and 20-25c)... That's if I was a great believer in the EWT(Elliott Wave Theory).

The following chart is one EWT count for LLL. Since the ATL(35.5c) I'm guessing we are sort of just over 1/2 way through The larger degree Impulse Wave out of that low. That is, we still have not finished this degree's 3rd wave up of a min 5_wave advance. In fact, we may still haven't even found the top of a minor wave-3 of the next lower degree 5 wave advance altho I do note that today's high($1.285) was right at the preferred 3.618 x wave 1 advance of that degree's initial advance(44c to 67.8c). A 3.618 x wave 1 for a wave 3 is for a strong market ... and LLL is a strong market. BUT, but it could still go higher(mid $1.40's - mid $1.60's) b4 any real correction starts.

HOWEVER, as I have stated many times b4 on HC, this is why I don't like to rely on EWT as a stand alone TA tool ... Too many IF's and BUT's! I much prefer to consider, what I call "Wave Personality" ... i.e. simply identifying whether a wave is Impulsive or Corrective. There is no doubt I current wave up is Impulsive, right!

Still a long way to go IMHO...



P.S. An alternative EWC would simply be that the corrective move from the 81cH to the 43cL is an ABCDE correction for the higher degree Wave(2) instead as shown above(I've called the 44cL and the 43cL as a Double Bottom). Regardless, the alternative ABCDE for Wave(2)count would still mean we still haven't completed a Wave(3) impulse for this degree's 5-Wave advance. For a brief moment, last week's peak($1.175), which was actually right at the min Wave(3) advance(i.e. 1.618% x Wave(1)), could have been so but that SPH has now been taken out this week. The mid $1.60's would be a more likely cessation for Wave(3) using this count ... being 2.618% x Wave(1)... similar to the previous EWC. IF a more significant correction was to start from here(i.e. Wave (4)), and more in Time than Price, then one would expect the Wave(5) advance would probably be the longer and largest wave in this 5-Wave advance anyway. All basic EWT.

Regardless, either count says more significant SP rise to go, right! Better still to pay attention to other TA (and FA)tools as well for a better understanding of what is probably likely unfolding.