Elliott wave counting

A decline can also take the form of 5 waves as this one appears to be doing.

Thus a 3rd wave can SPIKE DOWN and be devastating within that trend.
So far we have a wave 1 down off oct31 and a possilbe wave 2 either done or still in progress. Once completed, there is WAVE 3. Which can break down into 5 waves also.

Last week hit the 12th for a low as I described.
The 14th by some was supposed to be a lower low, but it obviously turned in a possible HIGH this week, unless Monday starts out on a strong note.

Heres my outlook for the balance of November
Monday Could start out positive, but even if it does, It should close down, and IF it starts down, it should be quuite severe, followed by an equal down on Tuesday.

WEd should POP UP and probably make it to the close.

Thursday, gobble gobble, and enjoy that turkey with all the trimmings.

Friday, Nov 23rd, looks like another severe selling day, but it closes at 1pm.
Coincidentally, there is a 126 bar count at 1:30, and thus 1pm falls within its influence.

The weekend of the 24th has some severe influences which should have its effect on trading on the 23rd.

A 10 day cycle is due on the 26th, but IMO, it will occur on the 23rd due to those influences as mentioned.

26 to 28th is indicated as UP
29 and 30th are expected to be DOWn days
Oct 31st.
8 TRADE day low = NOV 12th
4 day high = Nov 16th
next 4&8 day low = Nov 23
8 day high = Dec5
4 day = Dec 11
8 day = Dec 17
21 st
28 th.

As I've mentioned b4, DEc 11th should be a very important date ,a nd could be the low of 2007.
Bank stocks are getting killed.

Best Wishes

Jay