Weekend anoxia definition biology report the elliott wave lives on

This week SPX stared off down by 14 points within anoxia definition biology the first hour, then rallied and traded in a narrow range to close anoxia definition biology monday just 6 point off last week’s close of 3026. Tuesday gapped down and declined to 3001, then rallied back to partially fill the gap, but closed down another 10 points to 3010. Wednesday opened up slightly higher and traded in a narrow anoxia definition biology range until the fed announcement to move fed funds lower anoxia definition biology by 25 basis points. After the press conference began, the market sold off aggressively to a low of 2958 anoxia definition biology by 3pm, then rallied and bounced around to finish the day at anoxia definition biology 2981. On thursday, SPX rallied nearly all the way back by noon to anoxia definition biology pre-fed levels around 3014, until tariff man intervened to announce new tariffs on china.


From there, the market rapidly sold off to end thursday at 2950, followed by a gap down and further decline on friday anoxia definition biology to reach the low of the week at 2914 before anoxia definition biology noon. SPX then chopped higher and rallied up to 2944, before settling into the close to finish the week at anoxia definition biology 2932. An exciting and volatile week!

In the US, the long-term count remains unchanged with the super cycle SC2 low anoxia definition biology in march 2009. The primary wave I high occurred in may 2015 and anoxia definition biology primary wave II low in february 2016. Primary wave III has been underway ever since. Major wave 1 high of primary wave III occurred in anoxia definition biology october 2018 and major wave 2 low in december 2018. Intermediate wave i of major 3 is now underway and anoxia definition biology is subdividing into minor waves.

This week opened down and continued to close down every anoxia definition biology single day, which generated the largest pullback since minor wave 2. The decline was sufficient to confirm a new downtrend. As a result, our medium term status has been updated, which suggests minute wave ii is subdividing with an irregular anoxia definition biology structure. All four of our key US markets are now in anoxia definition biology confirmed downtrends, as well most international markets that we track. We cautioned last week that DOW had not yet confirmed anoxia definition biology the third wave up, as it peeked in line with our SPX minute wave anoxia definition biology i, which turned out to be a good indicator of the anoxia definition biology pending reversal (see chart below).

We anticipate that a typical decline for this downtrend would anoxia definition biology be in the 5% range, which suggests there may be more to go. But 114 points down so far from the irregular top anoxia definition biology meets minimum requirements for minute wave ii. Notice DOW got extremely oversold at the low, the most so since major wave 2 last december. We will be watching the short term waves for signs anoxia definition biology of a bottom in the coming days. Although we still expect minor wave 3 to exceed the anoxia definition biology 3300 level, we will be updating our medium target for minute wave anoxia definition biology iii after this downtrend completes.

We updated our short term count to reflect the subdividing anoxia definition biology minute wave ii as referenced in the previous section. This suggests that a complex irregular structure is in play anoxia definition biology with micro wave a = 2973, micro wave b at 3028 and a subdividing micro wave anoxia definition biology c in progress with a low of 2914 so far. As noted last week, the key level of 2976 was broken which triggered the anoxia definition biology failure of our previous more bullish count. Now we have minute wave ii reach within just a anoxia definition biology point of our 2913 target mentioned in the last couple anoxia definition biology of reports. This begs the question of a potential bottom close by anoxia definition biology and suggests the possibility of at least a meaningful bounce anoxia definition biology in the near term. Next target for an extension lower would be the prior anoxia definition biology small wave at 2875, which is just below our next lower pivot range.

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