SUMMARY
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US Bancorp (USB) has been on a tear since the 1990s and still, it hasn't finished it's five wave impulse as shown in the below chart. In fact, blue wave 3 is probably too conservative and would likely be where the current blue wave 5 is! In short, the bull rages on.
More detailed Elliott Wave labeling shows that white wave 2 was a classic expanded ABC flat correction. White wave 3 subwaves are shown in blue and blue wave 3 subwaves are shown in white. This means that white wave (4) correction is currently in progress. Note how the rise has also been in a tight price channel (purple lines). Once white wave 3 completes, white wave 4 is next.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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