And the answer is...keep it simple stupid...KISS. I will tell you now...I see more Eliott wave people coming up with the wildest abstractions for this market. This is why most elliottwave traders miss the big moves...making it too complicated is not a good technique to use when analyzing the markets. I think its important to be decisive and to be clear...what I see going on is the people are confused and coming up with wild theories whether they are probablistic or not.
For example, our triangle has very near reached its apex...yet with in that apex, we still need to make an D and E wave...it makes absolutely no sense to put the E wave this far into the actual apex. All I hear about is triangles...and pennants but those patterns do not fit well on any index that I looked at.
