Note: The EW counts on the right edge are real-time, and they are prone to adjustments as price action develops. Elliott Wave has a fluid approach, is evidence-based, and requires constant monitoring of certain thresholds.
In the counts below, this (( )) = circle on chart
Chart of the Day - COIN Coinbase - Bear market during 2021-2022 followed by bearish to bullish reversal (inverted HS formation). Two price throwbacks that retest broken key levels followed by explosions higher. Now hitting a marginal resistance near 280 but likely to continue higher after a corrective period. Above 200 continues to be a buy.
Today’s CPI came in slightly hotter than projected, but the market chatter for the past couple of weeks suggested that this was expected to happen. Equities dropped on the numbers initially, followed by a move to new highs.
Gains were dominated by tech, communication, and discretionary, basically a full-on risk day throughout.
In yesterday’s report, I showed weekly counts on all core markets along with daily trends and commentary. In the video, I focused on explaining some of the counts behind price development.
In today’s note, I will show cluster fib projections and zones of price attractions when we have price discovery ( aka all-time highs).
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