SUMMARY

Home Depot (HD), the DIY source for all Americans! The price of HD has been soaring and is expected to rise higher and higher and that's probably where the mistake lies. Elliott Waves show that wave 1,2 and 3 are likely complete. The blue subwaves also seem to indicate the same; that all higher degree of trend waves (white) have likely bee fulfilled by the subwaves. That leaves waves 4 and 5.

It seems like HD is in the midst of a wave 4 correction. IF this is correct, the ABC (red) could pattern out a potential downward wedge; though it could be any of 34 possible cominations. Is this a crash scenario? It's a corrective scenario for wave 4. Once complete, the MACD should start rising to support higher prices ahead for wave 5.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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