As of 02/03/2023
  Indus: 33,926 -127.93 -0.4%  
  Trans: 15,518 -122.49 -0.8%  
  Utils: 954 -22.84 -2.3%  
  Nasdaq: 12,007 -193.87 -1.6%  
  S&P 500: 4,136 -43.28 -1.0%  
YTD
 +2.3%  
 +15.9%  
-1.4%  
 +14.7%  
 +7.7%  
  Targets    Overview: 02/01/2023  
  Up arrow35,100 or 33,150 by 02/15/2023
  Up arrow16,000 or 14,350 by 02/15/2023
  Up arrow1,040 or 950 by 02/15/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,250 or 3,900 by 02/15/2023
As of 02/03/2023
  Indus: 33,926 -127.93 -0.4%  
  Trans: 15,518 -122.49 -0.8%  
  Utils: 954 -22.84 -2.3%  
  Nasdaq: 12,007 -193.87 -1.6%  
  S&P 500: 4,136 -43.28 -1.0%  
YTD
 +2.3%  
 +15.9%  
-1.4%  
 +14.7%  
 +7.7%  
  Targets    Overview: 02/01/2023  
  Up arrow35,100 or 33,150 by 02/15/2023
  Up arrow16,000 or 14,350 by 02/15/2023
  Up arrow1,040 or 950 by 02/15/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,250 or 3,900 by 02/15/2023

Bulkowski on the Double Zigzag Elliott Wave Pattern

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

 

The double zigzag wave in a bull market. The figure to the right shows what a double zigzag wave looks like. If you know what a zigzag looks like, then the double zigzag is two of them pasted together with a 'three' in between. Sometimes, you see three zigzags coupled together when price falls short of its intended target, according to Frost and Prechter. The double and triple zigzags are similar to an extension of an impulse wave, if you know what that means, but are rarer. Second waves often have zigzags as their subwaves but fourth waves rarely do.

The double zigzag in a bear market. This chart is the same as the prior one but the wave occurs in a bear market. Highlighted in red is the three subwave pattern (1, 2, and 3) connecting the two zigzags together. Each zigzag is a 5-3-5 pattern itself, meaning it has five subwaves in A, three in B, and another five in C. The end of wave B should fall well short of the start of wave A.

Double Zigzag Wave Rules

The double zigzag has rules that govern its shape. They are listed here.

See Also

 

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