The prior post focused on Exchange Traded Fund – XLP as a guide to help with the Elliott Wave count for the US stock market.
The following weekly chart courtesy of Trading View shows an individual stock which so far has a textbook Elliott Wave pattern.
Sometimes small cap stocks involved in speculative buying manias will have clear Elliott patterns. In this case the stock is Zoom Video Communications Inc. (ZM), which in less than one-year has increased more than seven times!
If the patterns completes, ZM may reach an important top sometime in early 2021 and could help in timing a significant peak for the US stock market.
3 thoughts on “Additional Elliott Wave Confirmation”
Continued excellent market observations,
reached with your own unique analysis..
The more tools available will help if the US market appears to be nearing an important top.
Thanks, Mark, for telling us about XLP. What a good investment idea for these stay-at-home times!