As of 10/03/2024
Indus: 42,012 -184.93 -0.4%
Trans: 15,745 -226.81 -1.4%
Utils: 1,058 -6.74 -0.6%
Nasdaq: 17,918 -6.64 0.0%
S&P 500: 5,700 -9.60 -0.2%
|
YTD
+11.5%
-1.0%
+20.0%
+19.4%
+19.5%
|
 43,500 or 41,600 by 10/15/202416,800 or 15,700 by 10/15/20241,125 or 1,025 by 10/15/202419,000 or 17,600 by 10/15/20245,900 or 5,600 by 10/15/2024 |
As of 10/03/2024
Indus: 42,012 -184.93 -0.4%
Trans: 15,745 -226.81 -1.4%
Utils: 1,058 -6.74 -0.6%
Nasdaq: 17,918 -6.64 0.0%
S&P 500: 5,700 -9.60 -0.2%
|
YTD
+11.5%
-1.0%
+20.0%
+19.4%
+19.5%
| |
|
43,500 or 41,600 by 10/15/202416,800 or 15,700 by 10/15/20241,125 or 1,025 by 10/15/202419,000 or 17,600 by 10/15/20245,900 or 5,600 by 10/15/2024 | ||
This page describes the zigzag 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 two zigzag waves. The first on the left, in blue, is an ABC correction of the prior motive wave in a bull market. It shows
how wave B ends well below the start of wave A.
The right figure shows the 5-3-5 subwaves that make up the zigzag. Think of each subwave as a line segment in the illustration.
The chart on the right shows the zigzag pattern in a bear market. This is just an inversion of the prior chart and is sometimes called an inverted zigzag.
Wave B falls well short of the start of wave A, just as in the prior chart. The chart shows the 5-3-5 subwaves using numbers 1
through 5.
The zigzag has rules that govern its shape. They are listed here.
-- Thomas Bulkowski
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