On every trading day, after market closes, I would choose 10 best tweets from the Fintwit World and rank them on thoughtfulness of their ideas and informative of their charts. Please tweet your nominations for Top Ten Tweets (TTT) to my account @MasterPandaWu.
12/17 turning cycle? (1) sometimes, being stubborn is a virtue--I was confused by the 12/17 cycle low, when FOMC generated a larger spike to 4732. (2) now, with a lower low at 4600, I can finally wrap up this crazy mess of waves--4713-4606-4732-4600 is a FLAT W-B, with C to 4819.
Key piece to the puzzle: (1) in retrospect, the wave pattern is so clear--that is the challenge & beauty of EWT. (2) While the gap down was a bit unexpected, the subsequent bounce [66 point straight up] is unequivocal an IM. (3) hence, the blue zigzag mid-day is obvious a w-2.