Kellog Company (K): Still Missing Wave 5

SUMMARY

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Kellog Company (K) is showing an impulse sequence where waves 1,2 and 3 are complete (white) while 4 is in progress. This correction can't overlap the peak of wave 1 per Elliott rule and this is why it usually retraces 0.38 Fib level of wave 3. IF there is an overlap, then this count is invalidated.

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The subwaves for qualify the higher degree of trends. Per the rule of alternation, white wave 4 is labeled as an abcde; though it could morph into any of the 34 possiblities. Since wave 2 was a simpl type, wave 4 is expected to be more complex in sequence.

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