As of 12/07/2023   Indus: 36,117 +62.95 +0.2%     Trans: 15,299 +69.26 +0.5%     Utils: 878 -1.01 -0.1%     Nasdaq: 14,340 +193.28 +1.4%     S&P 500: 4,586 +36.25 +0.8%	YTD  +9.0%    +14.2%   -9.2%    +37.0%    +19.4%	Targets    Overview: 11/29/2023     34,500 or 36,400 by 12/15/2023   14,500 or 15,800 by 12/15/2023   900 or 825 by 12/15/2023   13,700 or 14,450 by 12/15/2023   4,450 or 4,650 by 12/15/2023
Chart Pattern Indicator: on 12/5/23

As of 12/07/2023   Indus: 36,117 +62.95 +0.2%     Trans: 15,299 +69.26 +0.5%     Utils: 878 -1.01 -0.1%     Nasdaq: 14,340 +193.28 +1.4%     S&P 500: 4,586 +36.25 +0.8%	YTD  +9.0%    +14.2%   -9.2%    +37.0%    +19.4%
Targets    Overview: 11/29/2023     34,500 or 36,400 by 12/15/2023   14,500 or 15,800 by 12/15/2023   900 or 825 by 12/15/2023   13,700 or 14,450 by 12/15/2023   4,450 or 4,650 by 12/15/2023
Chart Pattern Indicator: on 12/5/23

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

See Also

• Here is the main resource for Elliott wave information.
• Support and resistance. Learn the various types.
• Market direction. 7 tips to determining.
• Trading cycles help time your entries and exits.
• Trend change detection using a triangle apex.

 

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