As of 07/10/2020   Indus: 26,075 +369.21 +1.4%     Trans: 9,312 +172.05 +1.9%     Utils: 791 +17.12 +2.2%     Nasdaq: 10,617 +69.69 +0.7%     S&P 500: 3,185 +32.99 +1.0%	YTD -8.6%   -14.6%   -10.0%    +18.3%   -1.4%	Targets    Overview: 06/30/2020     24,000 or 27,800 by 07/15/2020   8,400 or 10,000 by 07/15/2020   825 or 700 by 07/15/2020   10,800 or 10,000 by 08/01/2020   2,900 or 3,300 by 07/15/2020
CPI (updated daily): on 7/10/20

As of 07/10/2020   Indus: 26,075 +369.21 +1.4%     Trans: 9,312 +172.05 +1.9%     Utils: 791 +17.12 +2.2%     Nasdaq: 10,617 +69.69 +0.7%     S&P 500: 3,185 +32.99 +1.0%	YTD -8.6%   -14.6%   -10.0%    +18.3%   -1.4%
Targets    Overview: 06/30/2020     24,000 or 27,800 by 07/15/2020   8,400 or 10,000 by 07/15/2020   825 or 700 by 07/15/2020   10,800 or 10,000 by 08/01/2020   2,900 or 3,300 by 07/15/2020
CPI (updated daily): on 7/10/20

Bulkowski on the Unknown Extension Elliott Wave Pattern

This page describes the unknown extension pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

The figure to the right shows what an unknown extension looks like in a bull market. An extension is an unusually long impulse wave with exaggerated subwaves, according to Frost and Prechter.

In an unknown extension, all of the subwaves appear similar in shape and duration such that none of the waves can be identified.

The four subwave extension joins the existing five to total nine waves (waves one through five plus a four wave extension).

The chart shown on the right is the same as the prior one, but the wave occurs in a bear market. All of the subwaves appear similar in shape and duration making identification of waves one, three, and five difficult.

Extension Rules

The wave unknown extension has rules that govern its shape. They are listed here.

• Nine subwaves compose the wave.
• Each subwave appears similar to the others making identification of waves one, three, or five difficult.

-- Thomas Bulkowski

 

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