As of 04/19/2021   Indus: 34,078 -123.04 -0.4%     Trans: 14,799 -120.71 -0.8%     Utils: 921 -2.88 -0.3%     Nasdaq: 13,915 -137.57 -1.0%     S&P 500: 4,163 -22.21 -0.5%	YTD  +11.3%    +18.3%    +6.5%    +8.0%    +10.8%	Targets    Overview: 04/15/2021     34,800 or 32,900 by 05/01/2021   15,200 or 14,000 by 05/01/2021   950 or 885 by 05/01/2021   15,000 or 12,900 by 05/01/2021   4,400 or 3,900 by 05/01/2021
CPI (updated daily): on 3/25/21

As of 04/19/2021   Indus: 34,078 -123.04 -0.4%     Trans: 14,799 -120.71 -0.8%     Utils: 921 -2.88 -0.3%     Nasdaq: 13,915 -137.57 -1.0%     S&P 500: 4,163 -22.21 -0.5%	YTD  +11.3%    +18.3%    +6.5%    +8.0%    +10.8%
Targets    Overview: 04/15/2021     34,800 or 32,900 by 05/01/2021   15,200 or 14,000 by 05/01/2021   950 or 885 by 05/01/2021   15,000 or 12,900 by 05/01/2021   4,400 or 3,900 by 05/01/2021
CPI (updated daily): on 3/25/21

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

 

Support this site! Clicking any of the books (below) takes you to Amazon.com. If you buy ANYTHING while there, they pay for the referral.

My novels:

Copyright © 2005-2021 by Thomas N. Bulkowski. All rights reserved.

Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.

Some pattern names are registered trademarks of their respective owners.

Home Advertise Contact Donate Links Privacy/Disclaimer ☰

Stop repeat offenders. Don't re-elect them!