Continued from Elliott Wave Analysis on Venture Corporation
An invalid wave count from previous analysis due to rule violation. Doing a recount to rectify the mistake.
Recount at the Supercycle degree as the correctness in Supercycle will ensure whatever count in the lower degree to be correct. As data range is from 1994 to 2018, that duration is not enough to fit in 1 complete Supercycle degree cycle. Hence, to narrow down the possibilities, the following criteria shall be used.
1. Supercycle degree corrective waves will occur during economic recession
2. Supercycle or Cycle degree corrective waves will occur when company or industry fundamental is in weakness state