Elliott Wave counts to measure the markets we can see a 5 wave down count, followed by the A-B-C corrective pattern. Elliott Wave use, of all the technical tools, lends itself to longer term investment approaches. In fact, using EW on a shorter term can be down right tough. Where do you start your counts? Where do you end them? Was that a 3rd of a 5th? Even when you stick with the longer term, your starting points can be debated. For now it seems that we have completed the first leg two legs (1 through 5 =1 leg, and A-B-C=2 leg) of a 5 wave down pattern.
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