When C corrects down to D the focus should be on the market not breaking
the bottom trend line with any sort of significance.
It should be when 3 corrects down to 4
Okay, So I made an error on the original post. I ignored a fundamental tennant of elliott wave theory.
Also as the chart has progressed it's behaving slightly differently to how I originally thought it might. I think I tried to make it a little to complicated.
Anyway it seems to be sticking within the confines of the pitchfork and I will be monitoring that for the time being.
A broadening formation pattern appears to be forming/formed. I would expect a pretty dramatic sell off because of this.
This will either occur in the next hour or so. Or there will be one more wave which could take around 6 to 12 hours to form.
Either way keep an eye on it.
I'll update the chart.