Brief update of the long-term Elliott Wave count
Since next Friday I am heading to the beach for at least 4 weeks this is probably my last update until mid August.
As I have discussed in my last update on June 8 on the subject of the long-term Elliott Wave count (From the March 2009 low) I am considering that price is unfolding a Triple Zig Zag.
If this scenario is correct from the October 2013 low price should unfold a Zig Zag (ABZ) with a theoretical 1.618 extension target located at 2066.
We have the same issue I discussed regarding the up leg from the October 2013 low to the January high, which is clearly corrective. Once again the up leg from the February 7 low is also corrective therefore since the last wave (Z) must be impulsive the absence of impulsiveness should result in an Ending Diagonal.