Apparently C (Citigroup) is not an easy example for the Elliott Wave analysis

Trading strategy 1. Enter short position at the market open on 05-Dec-2005. 2. Place stop loss at 50.05 3. Update short term analysis daily and close the position after the end of the possible wave 4. ...Read more The price has not taken the resistance line at 50. The stochastic points to a good opportunity to enter a short position as we were expecting during the previous two weeks. However, according to our preferred scenario, only wave 3 of an impulse was completed and we must expect one more impulsive wave upwards after the end of current correction stage. The price is in the high probability zone of the wave 4, but it has about one more week to complete. At the same time the current short term rally started on Aug 29 can be considered as a corrective wave having higher rating. Although it is not in harmony with our preferred medium term outlook, it gives a hint about one thing (thought) that have bothered me in this outlook – the wave II in the medium term outlook seems to be too extended and the current pattern does not look like as a nice impulsive wave down. Now, if the current wave is a corrective pattern, it means that in the medium term we have a contracting triangle or another flat and the price will move further down to approximately 45 or even below. This is the ambiguity we have to face in the current situation.