saturday morning musings, page-9

Elliott Wave Analysis is pretty simple stuff.

It does not direct price, merely indicates probabilities.

Five up, three down.

On the contrary, five down, three up.

That's pretty much it in a nutshell, but there is always more.

Fibonacci relationships are powerful confirmations of the psychology of wave patterns, and are evident in this count.

Wave 2, be it bullish off a drop or bearish following a rise, is often a snap-back affair into the area of 61.8% of the previous pattern.

Wave 4 on the other hand commonly ends at around 38.2% of wave 4's previous pattern.

Wave 3 is never the shortest of the impulsive waves 1,3 and 5.....and so the theory goes on....

All of it is evident to quite precise degree in AKK's recent share price decline, which appears to me as a five wave movement counted out in blue.

Intervening waves 2 and 4 are counter to the primary move, which was down and are therefore corrective to the impulses down.

You can see this in their choppy structure, both of whose internal structure meets the ew principle very very clearly and precisely.

Hey, I'm just a guy working the screen.

I cannot compare my analysis to the excellent clarity provided in the above posts, nor am I trying to.

I'm not RC. I'm not here to build a company. I'm just here to be a part of it.....

Giddyup :)