Since the stock market is a fractal (Elliott, Mandelbrot), using the Elliott Wave Oscillator to illustrate waves, it illustrates a third and potential last mini-wave in the larger Primary wave 2 that started in late March.
- The broadest aggregate wave 2 pattern in stocks appears to be breaking down …
- Yesterday volume was down 26% for the S&P 500 index and 69% for the S&P 500 Equal Weight index.
- The overall volume wave trend appears to have halted.
-The Elliott Wave-
Here is a short educational and illustrative discussion on mood, wave patterns and stock prices by Robert Prechter, founder of the technical analysis firm Elliott Wave International.