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September 16th, 2014: IWM Wave Count

Posted by pugsma on September 16, 2014

10:45 pm EST:   Here is a look at the potential IWM wave count with the major [4]-P3 contracting triangle.   Note that the (c)=(a) target of 113.61 for the completion of minor E of major [4] was hit today.  Thus the major [4] triangle could be about to end and an explosive wave major [5] up about to begin.   The P3=1.23*target is 124.73 and the triangle target is 127.14.  However, should wave minor E of major [4] need to extend lower, there is also a potential lower target at (c)=1.62*(a)=111.72 to complete the triangle.

IWM 4-hr chart (9-16-14):

PUG IWM 4-hr chart 9-16-14

IWM weekly chart (9-16-14):

PUG IWM weekly chart 9-16-14

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