DECEMBER ELLIOTT WAVE: CONSOLIDATION NEAR "MINSKY PARABOLIC" SUPPORT LEVEL

BIG PICTURE - LONG TERM VIEW
INTERMEDIATE TERM
THREE MONTHS AGO WE SAID:
  • "We are presently looking for a corrective consolidation back to the S&P 500 200 DMA" -- This has been achieved,
  • The consolidation is not over until we find support on the "Minsky Parabolic" shown in white below,
  • The Parabolic pattern (in white) currently approximates the 200 DMA but is not an exact overlay. The white line is slightly lower.
SHORT TERM