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Road to the Final Five?

By Chart School
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Road to final five means fifth wave up in the year-long counter-trend rally (Elliott Wave-speak, see "What Can a Fractal Teach Me About the Stock Market?"), prelude to next leg down in secular bear market. – Ilene 

Road to the Final Five?

Courtesy of Allan of All Allan

 VLE 240m
 
(1) Trend Model Sell Signal
(2) Completion of Five Waves Up
(3) Reversal at resistance (blue horizontal)
(4) Divergence in Elliott Oscillator (lower high)
(5) Break of Linear Regression Channel
(6) Vortex Bearish Cross-Over

 

TZA 240m

(1) Trend Model Buy Signal
(2) Completion of Five Waves Down
(3) Reversal at support (blue horizontal)
(4) Divergence in Elliott Oscillator (lower high)
(5) Break of Linear Regression Channel
(6) Vortex Bullish Cross-Over
 

These 240 minute charts are making a statement, but they are not Daily charts so how significant a statement is unclear right now.  Should the late weakness of Thursday carry over into Friday, we focus on the Daily charts and Daily Trend Models.  If they flip as well, than its a whole new ballgame.   

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