Today's rally had enough breadth to put the potential for wave c of an upward flat correction to the top of the list. However, the triangle possibility is still on the table. If the flat correction is correct, then we may see a move toward the 50dema, which should be a great selling opportunity. Given the typical upward bias for the end of October, it would not be surprising to see this rally hold up until election day and perhaps a little longer.
I appreciate the comments. Keep them coming. As a side note, I agree that Robert Prechter's history is tarnished. I believe that he let his desire to be right, and perhaps be the hero, get in the way of seeing what the market was actually doing. Nevertheless, I harbored a strong suspicion over the last few years that by time people had given up on him, he would end being "right" after all. The most important point is the elliott wave theory and practice to me is only a guideline and a way to assess how hard to press the trend and when to let up while using basic technical analysis to follow the trend.